LKQ Corporation Announces $1 Billion Increase to its Stock Repurchase Program
LKQ announced a $1 billion increase to its stock repurchase program, bringing the total authorization to $4.5 billion and extending the program through October 25, 2026. Since October 2018, the company has repurchased approximately 62 million shares for $2.7 billion. The program allows for open market and private transaction purchases, with timing and amounts determined by management based on market conditions. Repurchased shares will be held as treasury stock.
LKQ ha annunciato un aumento di 1 miliardo di dollari al suo programma di riacquisto di azioni, portando l'autorizzazione totale a 4,5 miliardi di dollari e prolungando il programma fino al 25 ottobre 2026. Da ottobre 2018, la società ha riacquistato circa 62 milioni di azioni per un totale di 2,7 miliardi di dollari. Il programma consente acquisti sia sul mercato aperto che tramite transazioni private, con tempistiche e importi determinati dalla direzione in base alle condizioni di mercato. Le azioni riacquistate saranno mantenute come azioni proprie.
LKQ anunció un incremento de 1 mil millones de dólares en su programa de recompra de acciones, llevando la autorización total a 4.5 mil millones de dólares y extendiendo el programa hasta el 25 de octubre de 2026. Desde octubre de 2018, la compañía ha recomprado aproximadamente 62 millones de acciones por 2.7 mil millones de dólares. El programa permite compras en el mercado abierto y transacciones privadas, con momentos y montos determinados por la gerencia en función de las condiciones del mercado. Las acciones recompradas se mantendrán como acciones en tesorería.
LKQ 는 자사 주식 매입 프로그램에 10억 달러 증가를 발표하여 총 승인 금액을 45억 달러로 증가시키고 프로그램을 2026년 10월 25일까지 연장했습니다. 2018년 10월 이후로, 회사는 약 6,200만 주를 27억 달러에 재매입했습니다. 이 프로그램은 공개 시장과 사적인 거래를 통해 구매를 허용하며, 시기와 금액은 경영진이 시장 상황에 따라 결정합니다. 재매입된 주식은 자사주로 보유됩니다.
LKQ a annoncé une augmentation de 1 milliard de dollars de son programme de rachat d'actions, portant l'autorisation totale à 4,5 milliards de dollars et prolongeant le programme jusqu'au 25 octobre 2026. Depuis octobre 2018, l'entreprise a racheté environ 62 millions d'actions pour 2,7 milliards de dollars. Le programme permet des achats sur le marché ouvert et des transactions privées, avec des moments et des montants déterminés par la direction en fonction des conditions du marché. Les actions rachetées seront conservées en tant qu'actions propres.
LKQ gab eine Erhöhung um 1 Milliarde Dollar für sein Aktienrückkaufprogramm bekannt, wodurch die Gesamtautorisierung auf 4,5 Milliarden Dollar ansteigt und das Programm bis zum 25. Oktober 2026 verlängert wird. Seit Oktober 2018 hat das Unternehmen etwa 62 Millionen Aktien für 2,7 Milliarden Dollar zurückgekauft. Das Programm ermöglicht Käufe auf dem offenen Markt sowie private Transaktionen, wobei Zeitpunkt und Beträge von der Geschäftsleitung basierend auf den Marktbedingungen festgelegt werden. Die zurückgekauften Aktien werden als eigene Aktien gehalten.
- Authorization of additional $1 billion for share repurchases
- Extension of repurchase program through October 2026
- Strong track record of returning capital to shareholders ($2.7B in repurchases since 2018)
- Flexible repurchase terms allowing both open market and private transactions
- Significant cash outlay may reduce funds available for operations or strategic investments
- Program could potentially limit financial flexibility during market downturns
Insights
This significant
The extension and increase come at a time when the company has maintained a solid track record of buyback execution, having used about
ANTIOCH, Tenn., Oct. 24, 2024 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq: LKQ) today announced that its Board of Directors has authorized a
Under the repurchase program, the Company is authorized to repurchase shares in the open market as well as in privately negotiated transactions. The timing and the amount of any repurchases of common stock will be determined by LKQ management based on its evaluation of market conditions and other factors. The repurchase program will be effected in compliance with SEC Rule 10b-18 and other applicable legal requirements. The repurchase program does not obligate the Company to acquire any specific number of shares and may be suspended or discontinued at any time. Stock purchased as part of this program will be held as treasury stock.
About LKQ Corporation
LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of OEM recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.
Forward Looking Statements
Statements and information in this press release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made pursuant to the “safe harbor” provisions of such Act.
Forward-looking statements include, but are not limited to, statements regarding our outlook, guidance, expectations, beliefs, hopes, intentions and strategies. These statements are subject to a number of risks, uncertainties, assumptions and other factors including those identified below. All forward-looking statements are based on information available to us at the time the statements are made. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
You should not place undue reliance on our forward-looking statements. Actual events or results may differ materially from those expressed or implied in the forward-looking statements. The risks, uncertainties, assumptions and other factors that could cause actual events or results to differ from the events or results predicted or implied by our forward-looking statements include, among others, changes in our cash position or cash requirements for other purposes, fluctuations in the price of our common stock, general market conditions, and stockholder response to the repurchase program; and other factors discussed in our filings with the SEC, including those disclosed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2023 and in our subsequent Quarterly Reports on Form 10-Q. These reports are available on our investor relations website at lkqcorp.com and on the SEC website at sec.gov.
Contact:
Joseph P. Boutross
Vice President, Investor Relations
LKQ Corporation
(312) 621-2793
jpboutross@lkqcorp.com
FAQ
What is the new total authorization for LKQ's stock repurchase program?
How many shares has LKQ repurchased since starting its buyback program?
When does LKQ's extended stock repurchase program expire?
How does LKQ execute its stock repurchase program?
