LKQ sees record revenue in third quarter

CHICAGO, Ill. — LKQ Corporation has reported record revenue for the third quarter of 2018 of $3.12 billion, an increase of 26.6 percent as compared to $2.47 billion in the third quarter of 2017. For the third quarter of 2018, parts and services organic revenue growth was 4.3 percent and acquisition revenue growth was 23.2 percent, while the impact of exchange rates was (0.6 percent), for total parts and services revenue growth of 26.9 percent.

Net income attributable to LKQ stockholders for the third quarter of 2018 was $134 million, up 9.6 percent year-over-year. On an adjusted basis, net income attributable to LKQ stockholders was $177 million, an increase of 26.9 percent as compared to the $140 million for the same period of 2017. Diluted earnings per share attributable to LKQ stockholders for the third quarter of 2018 was $0.42 as compared to $0.39 for the same period of 2017, an increase of 7.7 percent. On an adjusted basis, diluted earnings per share attributable to LKQ stockholders for the third quarter of 2018 was $0.56, an increase of 24.4 percent as compared to $0.45 for the same period of 2017.

Dominick Zarcone, president and CEO of LKQ Corporation, stated, “I am pleased with the trajectory of our operational initiatives that are focused on a more balanced approach of delivering organic growth while simultaneously optimizing productivity and profitability. I am particularly pleased with the improvement in year-over-year Segment EBITDA margins for our Europe and Specialty segments. Additionally, North America’s Segment EBITDA margin decline was significantly less than the seasonal drop experienced in the prior two years. The continued narrowing of this seasonal gap validates our North America team’s efforts to drive margin improvement, despite the ongoing headwinds of wage and freight inflation, and the recent impact of lower scrap prices.”

On a nine-month year-to-date basis, revenue was $8.88 billion, an increase of 22.1 percent from $7.27 billion for the comparable period of 2017. Parts and services organic revenue growth for the first nine months of 2018 was 5.1 percent. Net income from continuing operations attributable to LKQ stockholders for the first nine months of 2018 was $444 million, an increase of 7.2 percent as compared to $414 million for the comparable period of 2017. Diluted earnings per share from continuing operations attributable to LKQ stockholders for the first nine months of 2018 was $1.41, an increase of 6.0 percent as compared to $1.33 for the same period of 2017. On an adjusted basis, diluted earnings per share from continuing operations attributable to LKQ stockholders for the first nine months of 2018 was $1.71, an increase of 16.3 percent as compared to $1.47 for the same period of 2017.

 

SOURCE: LKQ press release

Ronnie Wendt

Ronnie Wendt

Ronnie Wendt has been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and the RV industry. She's not a stranger to RVs, however. She grew up camping, and still camps as many weekends as she can every year. She is the owner of In Good Company Communications and can be reached at ingoodcompanycommunications@gmail.com.

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