Lkq Corp Stock Price, News & Analysis

LKQ Corporation will publish its third quarter 2021 financial results on October 28, 2021. A conference call for investors is scheduled at 8:00 a.m. ET, featuring senior management discussing the results. Investors can participate by calling (833) 236-5754, with international access via (647) 689-4182, using conference ID: 5183363#. The presentation can be streamed online at www.lkqcorp.com, and a replay will be available until November 11, 2021.

LKQ is a leading provider of alternative and specialty automotive parts with operations across North America, Europe, and Taiwan.

LKQ Corporation reported second quarter 2021 revenue of $3.4 billion, a 30.8% year-over-year increase. The diluted EPS rose to $1.01, up 159.0%, while adjusted diluted EPS reached $1.13, an increase of 113.2%. Segment EBITDA margins were strong across North America (20.8%), Specialty (14.9%), and Europe (10.7%). Operating cash flow was $411 million with free cash flow at $365 million. The company expanded its stock repurchase program by $1 billion, raising total authorization to $2 billion. The 2021 outlook was raised, anticipating diluted EPS between $3.23 and $3.43.

LKQ Corporation has authorized a $1 billion increase to its stock repurchase program, raising the total to $2 billion, effective through October 25, 2024. Since October 2018, LKQ has repurchased 25 million shares for $830 million. Executives express confidence in the company's future performance and cash flow generation. The repurchase strategy aims to enhance shareholder value, with buybacks to be executed based on market conditions and compliant with SEC regulations.

LKQ Corporation is set to release its second quarter 2021 financial results on July 29, 2021. A conference call will be held at 8:00 a.m. ET for management to discuss the results. Interested parties can join the call by dialing (833) 236-5754 for U.S. access or (647) 689-4182 internationally, using conference ID: 5091036#. The audio webcast and accompanying slides will be available on LKQ's website. Replays of the conference call will be accessible until August 12, 2021.

LKQ Corporation (Nasdaq: LKQ) has acquired Green Bean Battery, LLC, a hybrid battery reconditioner and installer, expanding its alternative parts offerings. Green Bean, founded in 2016, utilizes a proprietary process that extends the life of hybrid batteries while enhancing reliability. With operations in eight trading zones across the U.S., Green Bean reconditions batteries for major hybrid vehicles including those from Toyota and Honda. This acquisition aligns with LKQ's commitment to adapt to technological changes in the auto industry, bolstering its powertrain remanufacturing capabilities.

LKQ Corporation has received its first-time Long-Term Issuer Default Rating of ‘BBB-’ from Fitch Ratings, reflecting the company’s operational strength. This rating applies to LKQ and its subsidiary LKQ European Holdings B.V. Additionally, LKQ’s senior secured revolving credit facility and term loan, as well as senior unsecured notes issued by LKQ Europe, were assigned the same ratings. The outlook is stable. The Executive Vice President highlighted the achievement as a milestone towards enhancing financial resilience and supporting growth initiatives while maintaining a net leverage ratio of 1.4x EBITDA.

LKQ Corporation reported first quarter 2021 revenue of $3.2 billion, marking a 5.7% increase year-over-year. Diluted EPS rose 83.3% to $0.88, with adjusted diluted EPS up 64.9% to $0.94. Segment EBITDA margins improved, reaching 19.9% in North America and 9.6% in Europe. Operating cash flow surged 169% to $523 million, and free cash flow rose 220% to $481 million. The company raised its 2021 outlook for profitability and free cash flow, anticipating significant revenue growth.

LKQ Corporation (Nasdaq: LKQ) is set to release its first quarter 2021 financial results on April 29, 2021. A conference call with senior management will follow at 8:00 a.m. ET to discuss these results. Investors can join the call by dialing (833) 236-5754 or (647) 689-4182 for international access, using conference ID 2377197#. The audio webcast and presentation will be available on the company's website. A replay will also be accessible through May 13, 2021.