Welcome to our dedicated page for Lkq news (Ticker: LKQ), a resource for investors and traders seeking the latest updates and insights on Lkq stock.
LKQ Corporation (LKQ) operates as a leading global distributor of vehicle replacement parts and components, serving the automotive repair industry through its network of salvage facilities and aftermarket distribution channels. This news hub provides timely updates on corporate developments, financial performance, and strategic initiatives shaping LKQ's position in the sustainable automotive parts sector.
Investors and industry professionals will find comprehensive coverage of earnings announcements, acquisition activity, partnership agreements, and operational milestones. The curated news selection emphasizes LKQ's core business areas including recycled collision parts, remanufactured mechanical components, and specialty aftermarket products.
Key updates include regulatory compliance changes affecting the aftermarket industry, sustainability efforts in vehicle recycling, and technological advancements in parts distribution. The page serves as a centralized resource for understanding LKQ's market expansion across North America and Europe.
Bookmark this page for streamlined access to official press releases and third-party analysis relevant to LKQ's evolving role in cost-effective automotive repair solutions.
LKQ Corporation has authorized a $500 million increase to its stock repurchase program, raising total program authorization to $2.5 billion through October 25, 2024. Since launching the program in October 2018, LKQ has repurchased 37.3 million shares for approximately $1.5 billion. The company's CFO cited strong balance sheet strength and free cash flow expectations as reasons for this expansion. This buyback initiative aims to boost shareholder value while balancing growth investments.
LKQ Corporation (Nasdaq: LKQ) will host an Investor Day on June 1, 2022, at its Nashville, Tennessee headquarters, starting at 10:00 a.m. Eastern time. Executive management will present, followed by a question and answer session concluding around 1:15 p.m. Eastern time. The event will be webcasted, with access through the Investor Relations section on www.lkqcorp.com, and a replay available the next day. LKQ Corporation is a leading provider of automotive parts across North America, Europe, and Taiwan.
LKQ Corporation reported first quarter 2022 revenue of $3.3 billion, a 5.6% year-over-year increase. Parts and services organic revenue grew by 6.9%. Diluted EPS reached $0.94, up 6.8%, with an adjusted EPS of $1.00, increasing 6.4%. Operating cash flow was $409 million and free cash flow stood at $350 million. The company initiated a $144 million stock buyback and declared a $0.25 dividend payable in June 2022. LKQ raised its 2022 organic revenue growth outlook to 4.5% to 6.5% and updated diluted EPS to $3.57 to $3.87.
On April 20, 2022, LKQ Corporation (Nasdaq: LKQ) announced the completion of its sale of PGW Auto Glass to One Equity Partners for $362 million, with adjustments post-closing. PGW generated nearly $400 million in revenue in 2021, boasting a 10% EBITDA margin. The financial results for PGW will be reflected in LKQ's continuing operations until the April 18 closing date. BofA Securities served as financial advisor for this transaction.
LKQ Corporation's credit rating has been upgraded by S&P Global Ratings to 'BBB-' from 'BB+', reflecting its operational success and enhanced financial stability. This upgrade reduces collateral requirements on its senior secured revolving credit facility, allowing for increased free cash flow, enhancing capital allocation opportunities for growth and shareholder returns. The outlook remains stable, indicating confidence in continued performance.
LKQ Corporation (Nasdaq: LKQ) is set to announce its first quarter 2022 financial results on April 28, 2022. A conference call will be held that same day at 8:00 a.m. Eastern Time, featuring senior management discussions. Investors can join the call by dialing (888) 330-3494 or (646) 960-0860 for international access, using conference ID: 5232422#. Additionally, an audio webcast and accompanying presentation will be available on LKQ's Investor Relations website. A replay of the call will be accessible until May 13, 2022.
On March 24, 2022, BetterInvesting Magazine announced Adobe Inc. (NASDAQ: ADBE) as its "Stock to Study" and LKQ Corp (NASDAQ: LKQ) as its "Undervalued Stock" for the June/July 2022 issue. This selection aims to educate investors amidst market volatility, highlighting the importance of regular investing. The committee emphasizes the significant performance of major indices, marking their best week since November 2020. For more insights on these stocks, visit BetterInvesting's platform for comprehensive analysis tools.
One Equity Partners has signed a definitive agreement to acquire PGW Auto Glass, a distributor of aftermarket glass products, from LKQ Corporation. The transaction aims to enhance PGW's position in the North American automotive sector, leveraging OEP's investment to drive operational improvements and growth. PGW employs over 900 staff across 113 facilities in the U.S. and Canada, boasting strong supplier relationships. The deal is expected to close in the second quarter of 2022, pending regulatory approvals.
LKQ Corporation announced the definitive agreement to sell PGW Auto Glass to One Equity Partners for a transaction expected to close in Q2 2022, pending regulatory approvals. PGW generated nearly $400 million in revenue with a 10% EBITDA margin in 2021. CEO Dominick Zarcone emphasized the divestiture aligns with LKQ's strategy to rationalize its portfolio by shedding non-core assets. BofA Securities is advising LKQ on the deal. Financial details of the transaction remain undisclosed.
LKQ Corporation has announced its sponsorship of the Women’s Industry Network (WIN) as a Platinum sponsor for 2022. This initiative aims to enhance the role of women in the collision repair industry by promoting education, professional advancement, and networking opportunities. Genevieve Dombrowski, Senior Vice President of Human Resources, emphasized the importance of fostering an inclusive culture. Amanda Allen, Director of Employee Experience, highlighted WIN's commitment to improving female retention and attracting more women to the industry.
