LKQ, a leading provider of vehicle parts and services, reported weaker-than-expected third-quarter results, with earnings per share missing estimates and sales falling short of analyst consensus. The company also revised its outlook for the full year, anticipating a decline in organic revenue for parts and services. Despite the disappointing results, LKQ remains committed to shareholder value, announcing a stock repurchase program increase and dividend declaration.
Automotive parts company LKQ (NASDAQ:LKQ) reported financial results for the first quarter of calendar year 2024 (Q1 CY2024), missing analysts’ expectations. Despite a 10.6% year-over-year increase in revenue to $3.70 billion, the company’s non-GAAP earnings per share (EPS) of $0.82 fell short of the estimated $0.95, marking a 13.8% miss. LKQ’s full-year guidance for adjusted EPS and free cash flow was maintained, while organic sales guidance was lowered.
