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Mar 31, 2022
LKQ Q1 2022 Earnings Report
LKQ Corporation reported year-over-year improvement in revenue and earnings per share for Q1 2022.
Key Takeaways
LKQ Corporation announced strong Q1 2022 results with a revenue of $3.3 billion, a 5.6% increase year-over-year. Diluted EPS was $0.94, up 6.8%, and adjusted diluted EPS was $1.00, up 6.4%. The company also raised its 2022 organic revenue and EPS outlook.
Revenue of $3.3 billion, up 5.6% year-over-year.
Parts and services organic revenue increased 6.9%.
Diluted EPS of $0.94, up 6.8%; adjusted diluted EPS of $1.00, up 6.4%.
Operating cash flow of $409 million; free cash flow of $350 million.
LKQ
LKQ
LKQ Revenue by Segment
LKQ Revenue by Geographic Location
Revenue by Segment
Parts and services Revenue
CapyFin.comSelf Service Revenue
CapyFin.comRevenue by Geographic Location
Wholesale North America Revenue
CapyFin.comEurope Revenue
CapyFin.comSpecialty Revenue
CapyFin.com Forward Guidance
LKQ raised its 2022 full year outlook for organic revenue growth for parts and services to 4.5% to 6.5% and diluted EPS to $3.57 to $3.87 and adjusted diluted EPS to $3.80 to $4.10. Operating cash flow is expected to be $1.3 billion and free cash flow is expected to be at least $1.0 billion.
Positive Outlook
- Encouraged by the demand outlook for our segments
- Continue to generate strong free cash flow
- Committed to investing in the business to drive long-term sustainable earnings growth
- Maintaining an investment grade debt rating
- Returning excess free cash flow to shareholders via share repurchases and quarterly dividends
Challenges Ahead
- Based on current conditions and recent trends
- Assumes current U.S. federal tax legislation remains unchanged
- The prices of scrap and precious metals hold near the first quarter average
- The Ukraine/Russia conflict continues without further escalation
- Changes in these conditions may impact our ability to achieve the estimates
Revenue & Expenses
Visualization of income flow from segment revenue to net income