LKQ (US:LKQ)2022-10-27 14:26Q3 2022 Performance Highlights - Organic revenue growth for parts and services was 4.8% (5.3% on a per day basis)[4] - Wholesale - North America organic revenue growth for parts and services reached 10.9%[4] - Europe organic revenue growth for parts and services was 4.8% (5.8% on a per day basis)[4] - The company repurchased 6.8 million shares for $343 million[4] - The Board of Directors authorized a $1.0 billion increase to the stock repurchase program, bringing the total to $3.5 billion, extending through October 25, 2025[4] Financial Results - Q3 2022 revenue was $3.104 billion, a decrease of 5.9% compared to $3.297 billion in Q3 2021[5, 9] - Currency translation had a negative impact of 6.9%, or $228 million, on revenue[5] - Diluted EPS was $0.95, a decrease of 1.0% from $0.96 in Q3 2021[5, 9] - Adjusted Diluted EPS was $0.97, a decrease of 4.9% from $1.02 in Q3 2021[5, 9] - For the nine months ended September 30, 2022, revenue was $9.793 billion, a decrease of 1.1% compared to $9.903 billion in the same period of 2021[42, 45] Segment Performance - Europe's parts and services revenue was negatively impacted by $224 million due to unfavorable foreign exchange rates in Q3 2022[6] - Unfavorable F/X impact on European parts and services revenue of $476 million for YTD 2022[44] - Self Service revenue decreased 16.2% to $164 million in Q3 2022, including Other Revenue of $109 million[20] - Self Service revenue decreased 5.4% to $571 million for YTD 2022, including Other Revenue of $399 million[50] Outlook - The updated Adjusted Diluted EPS guidance midpoint reflects headwinds from declining metals prices and currency translation[4] - The company updated its full-year 2022 organic parts and services revenue growth outlook to 4.75% to 5.75%[7] - The company expects approximately $1.0 billion in free cash flow for the full year 2022[7]