Welcome to our dedicated page for LKQ Corporation news (Ticker: LKQ), a resource for investors and traders seeking the latest updates and insights on LKQ Corporation stock.
LKQ Corporation (NASDAQ: LKQ), a Fortune 500 company, stands as North America’s largest provider of alternative collision auto parts. Established in 1998, LKQ has evolved from a consolidator of auto salvage operations in the U.S. to a global distributor of non-OEM automotive parts. The company offers a diverse array of products including recycled and remanufactured mechanical parts such as engines and transmissions, which are essential for automobile repairs. Additionally, LKQ is a prominent distributor and marketer of specialty aftermarket equipment and accessories in North America.
LKQ’s footprint extends beyond North America. It is the largest distributor of mechanical and collision alternative parts in the United Kingdom and the leading distributor of mechanical parts in the Netherlands. The company also operates in Taiwan, Belgium, and France, maintaining over 570 facilities worldwide. These facilities provide customers with a wide range of replacement systems, components, equipment, and parts for automobiles, trucks, recreational, and performance vehicles.
In terms of financial performance, LKQ has shown significant growth, surpassing $5 billion in revenue as early as 2013. This growth has been fueled by both internal development and an aggressive acquisition strategy, totaling over 170 acquisitions since its formation. LKQ also purchases over 300,000 salvage automobiles annually, extracting valuable parts for resale, and owns over 70 LKQ pick-your-part junkyards globally. The company's operations encompass approximately 1,700 facilities worldwide.
Recently, LKQ has focused on both expanding its global operations and enhancing its sustainability practices. The company’s commitment to providing high-quality, cost-effective parts makes it a valuable player in the automotive industry, and its extensive network ensures that customers worldwide have access to essential vehicle components.
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.
LKQ Corporation reported strong financial results for Q4 and the full year of 2021. Revenue reached $3.2 billion in Q4, up 7.9% year-over-year, while annual revenue totaled $13.1 billion, reflecting a 12.6% increase. Fourth-quarter diluted EPS rose to $0.81, a 37.3% increase. The company generated $1.4 billion in operating cash flow and returned $950 million to shareholders via stock buybacks and dividends. For 2022, LKQ anticipates organic revenue growth of 3% to 5% and diluted EPS between $3.50 and $3.80.
LKQ Corporation will announce its fourth quarter and full year 2021 financial results on February 17, 2022. The company will hold a conference call and webcast at 8:00 a.m. Eastern Time to discuss these results with senior management. Investors can join the call by dialing (833) 236-5754 or (647) 689-4182 for international access, using conference ID: 6894188#. A replay will be available post-presentation. LKQ is a leading provider of alternative and specialty parts for automobiles, with operations in North America, Europe, and Taiwan.
LKQ Corporation will be featured on the EARTH with John Holden television series airing on December 19, 2021, on Fox Business Network and December 26 on Bloomberg TV. The segment will highlight LKQ's role as the world's largest vehicle recycler, emphasizing its eco-friendly practices. Interviews with key management will take place at LKQ's Casa Grande, Arizona facility, showcasing their commitment to sustainability by recycling over 90% of materials from procured vehicles. The segment is also available on various streaming platforms.
LKQ Corporation has launched its inaugural ‘LKQ Cares Holiday Vote’ program, beginning on Giving Tuesday, November 30, 2021, and running through December 12, 2021. The company is donating $500,000 to ten philanthropic organizations, with the allocation determined by votes from stakeholders including employees and investors. Each organization will receive an initial $10,000, with the remaining $400,000 distributed based on the vote results. The donations will be finalized by January 2022, reflecting LKQ's commitment to impactful charitable engagement.
LKQ Corporation reported a robust third quarter for 2021, achieving $3.3 billion in revenue, a year-over-year increase of 8.2%. The company recorded a diluted EPS of $0.96, reflecting a 50% increase compared to the previous year. Operating cash flow was $429 million with a free cash flow of $384 million. LKQ also repurchased 4.3 million shares for $219 million and announced its first quarterly dividend of $0.25 per share. The full-year outlook has been raised, anticipating diluted EPS between $3.48 and $3.58.
FAQ
What is the current stock price of LKQ Corporation (LKQ)?
What is the market cap of LKQ Corporation (LKQ)?
What does LKQ Corporation do?
Where does LKQ Corporation operate?
What products does LKQ Corporation offer?
How has LKQ Corporation grown since its formation?
What is the significance of LKQ’s pick-your-part junkyards?
How many salvage automobiles does LKQ purchase annually?
What is LKQ’s commitment to sustainability?
Who should I contact for investor relations at LKQ?
What are LKQ’s specialty aftermarket products?
How does LKQ support the repair of performance vehicles?
