LKQ (US:LKQ) ZACKS·2024-07-25 17:26Core Insights - LKQ Corporation reported second-quarter 2024 adjusted earnings of 98 cents per share, missing the Zacks Consensus Estimate of $1.03 and decreasing from $1.09 in the prior year [11] - Quarterly revenues totaled $3.70 billion, falling short of the Zacks Consensus Estimate of $3.86 billion but increasing from $3.44 billion year-over-year [11] - The company announced a quarterly cash dividend of 30 cents per share, payable on August 29, 2024 [3] Segment Performance - Revenues from the Self-Service segment were $133 million, down 21.3% year-over-year and missing the estimate of $146.3 million; EBITDA for this segment was $13 million, below the forecast of $28.7 million but up from $7 million a year ago [2] - The Wholesale North American segment generated revenues of $1.47 billion, a 23% increase year-over-year, surpassing the estimate of $1.43 billion; EBITDA was $256 million, exceeding the forecast of $252.2 million [7] - Specialty segment revenues reached $466 million, a 5.2% year-over-year increase but below the projection of $474 million; EBITDA was $41 million, slightly down from $42 million a year ago but above the forecast of $36 million [12] - European segment revenues were $1.64 billion, flat year-over-year and below the estimate of $1.79 billion; EBITDA was $174 million, down from $188 million a year ago but above the forecast of $169.5 million [16] Financial Position - Cash flow from operating activities totaled $213 million, with positive free cash flow of $133 million during the quarter [13] - As of June 30, 2024, cash and cash equivalents were $276 million, down from $299 million at the end of 2023; long-term obligations increased to $4.25 billion from $3.65 billion [17] - The company revised its full-year 2024 guidance, now expecting parts and services organic revenues to decline by 1.25% to increase by 0.25%, down from a prior range of 2.5% to 4.5% growth; adjusted EPS is now projected to be between $3.50 and $3.70, reduced from $3.90 to $4.20 [18]