LKQ Corporation (LKQ) delivered adjusted earnings of 82 cents per share for first-quarter 2024, which missed the Zacks Consensus Estimate of 94 cents and decreased from $1.04 reported in the year-ago period.The aftermarket auto parts distributor registered quarterly revenues of $3.7 billion, missing the Zacks Consensus Estimate of $3.79 billion. The top line, however, grew from the year-ago level of $3.35 billion. Parts and services organic revenues decreased 0.3% year over year.Segment HighlightsIn the rep ...

LKQ Corporation (NASDAQ:LKQ) Q1 2024 Results Conference Call April 23, 2024 8:00 AM ET Company Participants Joe Boutross - Vice President of Investor Relations Nick Zarcone - President and Chief Executive Officer Justin Jude - Executive Vice President and Chief Operating Officer Rick Galloway - Senior Vice President and Chief Financial Officer Conference Call Participants Craig Kennison - Baird Gary Prestopino - Barrington Research Scott Stember - Roth MKM Bret Jordan - Jefferies Operator Good morning every ...

LKQ (LKQ) came out with quarterly earnings of $0.82 per share, missing the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $1.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -12.77%. A quarter ago, it was expected that this vehicle components company would post earnings of $0.75 per share when it actually produced earnings of $0.84, delivering a surprise of 12%.Over the last four quarters, the comp ...

Chicago, IL (April 23, 2024) -- LKQ Corporation (Nasdaq: LKQ) today reported first quarter 2024 financial results. "Our first quarter results were below our expectations as our Wholesale – North America segment was confronted with a reduction in repairable claims and the resulting pressure on demand, which we believe is primarily attributable to record warm weather across the United States. On the upside, we experienced positive organic growth in our Europe segment and generated robust free cash flow. Our s ...

Revenue of $3.7 billion (an 11% increase compared to the same period in 2023)Diluted EPS2 of $0.59; adjusted diluted EPS1,2 of $0.82Operating cash flow of $253 million; free cash flow1 of $187 millionDividend of $0.30 per share approved to be paid in the second quarter of 2024Completed an offering of €750 million of unsecured 4.125% senior notesUni-Select synergies accelerated and increased from $55 million to $65 millionRepurchased $30 million of LKQ shares CHICAGO, April 23, 2024 (GLOBE NEWSWIRE) -- LKQ C ...

Wall Street expects a year-over-year decline in earnings on higher revenues when LKQ (LKQ) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on April 23, 2024, might help the stock move higher if these key numbers are better than expectations. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ———————————————————— FORM 10-K ———————————————————— (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 000-50404 ________________________________________ LKQ CORPORATION (Exact name ...

LKQ Corporation (NASDAQ:LKQ) Q4 2023 Earnings Conference Call February 22, 2024 8:00 AM ET Company Participants Joe Boutross - VP, IR Nick Zarcone - President & CEO Rick Galloway - SVP & CFO Justin Jude - EVP & COO Conference Call Participants Daniel Imbro - Stephens Michael Hoffman - Stifel Craig Kennison - Baird Bret Jordan - Jefferies Operator Hello, and welcome to today's LKQ Corporation Fourth Quarter and Full Year 2023 Earnings Conference Call. My name is Jordan and I will be coordinating your call to ...

Change % of Revenue 10.0% 0.9% (1.3)%(0.5)% (0.4)% (0.4)% Q4 2022 Gross Margin Personnel Expenses Labor Strikes in Germany Nonrecurring Compensation Charge Other Expenses Q4 2023 6.0% 8.0% 10.0% 12.0% 8.3% Change % of Revenue | --- | --- | --- | --- | --- | --- | |--------------------|--------|--------|---------|-------|-------| | ($ in millions) | 2023 | 2022 | F/(U) | 2023 | 2022 | | Total Revenue (1) | $1,546 | $1,390 | 11.2% | | | | Gross Margin | $597 | $526 | 13.6% | 38.7% | 37.8% | | Operating Expens ...

Revenue Performance - Fourth quarter 2023 revenue was $3.5 billion, a 16.6% increase compared to $3.0 billion in Q4 2022[3] - Full year 2023 revenue reached $13.9 billion, an 8.4% increase from $12.8 billion in 2022[4] - Revenue for Q4 2023 was $3,501 million, a 16.6% increase from $3,001 million in Q4 2022[26] - Full year 2023 revenue reached $13,866 million, an 8.4% increase from $12,794 million in 2022[28] - The company reported a total of $4,974 million in wholesale revenue for North America for the year 2023, an 18.2% increase from $4,207 million in 2022[34] - Wholesale revenue in North America for Q4 2023 was $1,393 million, a 35.9% increase from $1,025 million in Q4 2022[33] - Parts & Services revenue for Q4 2023 was reported at $3,356 million, with a year-over-year growth of 18.7%[35] - Revenue growth at constant currency for Parts & Services was 16.0% in Q4 2023, while total revenue growth at constant currency was 14.0%[35] Profitability Metrics - Net income for Q4 2023 was $184 million, down from $193 million in Q4 2022, while adjusted net income increased by 7.9% to $226 million[4] - Full year 2023 net income was $0.94 billion, a decrease of 14.6% from $1.14 billion in 2022[5] - Operating income decreased to $277 million in Q4 2023, down 5.5% from $293 million in Q4 2022[26] - Full year 2023 operating income was $1,357 million, down 14.2% from $1,581 million in 2022[28] - Net income attributable to LKQ stockholders for Q4 2023 was $177 million, an 8.8% decrease from $194 million in Q4 2022[26] - Net income attributable to LKQ stockholders for the full year 2023 was $936 million, an 18.5% decrease from $1,149 million in 2022[28] - Basic earnings per share for Q4 2023 was $0.66, down 9.6% from $0.73 in Q4 2022[26] - Diluted earnings per share (EPS) from continuing operations attributable to LKQ stockholders for FY 2023 was $3.51, down from $4.11 in FY 2022[41] Cash Flow and Capital Management - Operating cash flow for 2023 was $1.4 billion, with free cash flow of $1.0 billion[7] - The company repurchased 0.7 million shares for $30 million in Q4 2023, totaling 0.8 million shares for $35 million in 2023[8] - The board declared a quarterly cash dividend of $0.30 per share, payable on March 28, 2024[9] - Free cash flow for FY 2023 was $998 million, slightly down from $1,028 million in FY 2022[44] - Forecasted free cash flow for FY 2024 is projected to be $1,000 million[46] Future Outlook - For 2024, the company anticipates organic revenue growth of 3.5% to 5.5% and adjusted diluted EPS of $3.90 to $4.20[13] - Forecasted net income from continuing operations attributable to LKQ stockholders for FY 2024 is projected to be between $918 million and $998 million[43] - Forecasted adjusted net income from continuing operations attributable to LKQ stockholders for FY 2024 is expected to range from $1,045 million to $1,125 million[43] Integration and Restructuring - The integration of Uni-Select is ongoing, with half of the FinishMaster locations converted ahead of schedule, expecting to exceed $55 million in synergies[11] - Restructuring and transaction-related expenses increased to $65 million in 2023 from $20 million in 2022[28] - Restructuring and transaction-related expenses for FY 2024 are expected to be $30 million[43] Balance Sheet Highlights - Total assets increased to $15,079 million as of December 31, 2023, up from $12,038 million in 2022, representing a growth of 25.4%[30] - Cash and cash equivalents at the end of the period were $299 million, up from $278 million at the beginning of the year, reflecting a net increase of $21 million[32] - The company’s retained earnings increased to $7,290 million as of December 31, 2023, compared to $6,656 million in 2022, marking a growth of 9.5%[30] - The total current liabilities rose to $3,318 million in 2023, up from $2,271 million in 2022, indicating a significant increase of 46.1%[30] - The company’s total stockholders' equity increased to $6,181 million in 2023, compared to $5,467 million in 2022, reflecting a growth of 13.0%[30] Segment Performance - Segment EBITDA for Q4 2023 reached $396 million, representing 11.3% of total revenue, compared to 12.4% in Q4 2022[36] - Segment EBITDA for the year ended December 31, 2023, was $1,759 million, which is 12.7% of total revenue[37] Other Notable Items - The company incurred $214 million in interest expense for the full year 2023, significantly up from $78 million in 2022[28] - The company experienced a decline in specialty revenue, which fell to $1,665 million in 2023, down 6.9% from $1,788 million in 2022[34] - The impact of currency fluctuations on Parts & Services revenue was a reduction of $76 million in Q4 2023[35] - The company noted adjustments related to the Uni-Select acquisition and the ongoing impacts of the Ukraine/Russia conflict[39] - Adjusted net income from continuing operations attributable to LKQ stockholders for Q4 2023 was $226 million, up 8.1% from $209 million in Q4 2022[41] - Amortization of acquired intangibles for FY 2024 is estimated at $144 million[43]