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Mar 31, 2020
LKQ Q1 2020 Earnings Report
LKQ's first quarter results were announced, revealing a slight revenue decrease but a significant rise in net income, amidst the growing impact of the COVID-19 pandemic.
Key Takeaways
LKQ Corporation reported a revenue of $3.0 billion for Q1 2020, a 3.2% decrease compared to Q1 2019. Net income attributable to LKQ stockholders increased by 49% to $146 million, while adjusted net income remained flat at $176 million. The company implemented cost reduction plans and maintained a strong liquidity position despite challenges posed by the COVID-19 pandemic.
Revenue decreased by 3.2% year-over-year to $3.0 billion.
Net income attributable to LKQ stockholders increased by 49% to $146 million.
Adjusted net income remained flat at $176 million compared to the prior year.
The company implemented cost reduction plans with potential annualized savings of over $1.0 billion.
LKQ
LKQ
LKQ Revenue by Segment
LKQ Revenue by Geographic Location
Revenue by Segment
Parts and services Revenue
CapyFin.comRevenue by Geographic Location
Wholesale North America Revenue
CapyFin.comEurope Revenue
CapyFin.comSpecialty Revenue
CapyFin.com Forward Guidance
Due to continued uncertainties from the impact of the COVID-19 pandemic, including the timing of the removal of mobility restrictions and the rate at which demand for auto repairs will improve, LKQ withdrew its financial guidance previously issued on February 20, 2020 and is not issuing updated financial guidance at this time.