LKQ Corporation (LKQ) Reports In-Line Q1 EPS, Revenues Miss; Offers FY19 EPS Mid-Point Guidance Below Consensus

LKQ Corporation (NASDAQ: LKQ) reported Q1 EPS of $0.56, in-line with the analyst estimate of $0.56. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.15 billion.

Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation, stated, “The business performed in-line with our expectations and we continue to make progress with our key productivity initiatives, despite tough revenue growth comparisons in North America, a challenging macro-economic environment in Europe, and the negative year-over-year impact of scrap and exchange rates. I am particularly pleased with the 90 basis points year-over-year improvement in our North America gross margins, a direct result of our ongoing margin enhancement and pricing initiatives to offset inflationary pressures. Additionally, during the quarter, Euro Car Parts continued to make progress towards optimizing the T2 distribution center, which had a positive impact on year-over-year European organic revenue growth and margins.”

GUIDANCE:

LKQ Corporation sees FY2019 EPS of $2.34-$2.46, versus the consensus of $2.41.

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

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