LKQ Corporation (LKQ) Tops Q2 EPS by 3c, Revenues Beat; Boosts FY18 EPS Outlook

LKQ Corporation (NASDAQ: LKQ) reported Q2 EPS of $0.61, $0.03 better than the analyst estimate of $0.58. Revenue for the quarter came in at $3.03 billion versus the consensus estimate of $2.89 billion.

• Revenue growth of 23.3% to $3.03 billion
• Organic revenue growth for parts and services of 7.2%
• Growth of net income attributable to LKQ stockholders of 4.0% to $157 million; adjusted net income increased 17.6%
• Second quarter 2018 diluted EPS attributable to LKQ stockholders of $0.50; adjusted diluted EPS of $0.61
• 2018 annual earnings guidance updated

Varun Laroyia, Executive Vice President and Chief Financial Officer, stated, “The updated guidance reflects a solid second quarter performance and our cautious optimism about the prospects for the balance of 2018. We expect headwinds in the remainder of the year of about $0.04 per share related to foreign currency translation from the strengthening dollar and a slightly higher tax rate than previously forecast. Additionally, while we have not built any impact into our updated guidance, we are actively monitoring the continued uncertainty surrounding tariffs and separately, the volatility in the prices for scrap metals.”

GUIDANCE:

LKQ Corporation sees FY2018 EPS of $2.25-$2.33, versus the consensus of $2.27.

For earnings history and earnings-related data on LKQ Corporation (LKQ) click here.

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