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Mar 31, 2024
LKQ Q1 2024 Earnings Report
LKQ's first quarter results were below expectations due to a reduction in repairable claims in North America, but positive organic growth in Europe and robust free cash flow were experienced.
Key Takeaways
LKQ Corporation reported first quarter 2024 financial results with revenue of $3.7 billion, an increase of 10.6% compared to the same period in 2023. Diluted EPS was $0.59 and adjusted diluted EPS was $0.82. Operating cash flow was $253 million and free cash flow was $187 million.
Revenue of $3.7 billion, an 11% increase compared to Q1 2023.
Diluted EPS of $0.59; adjusted diluted EPS of $0.82.
Operating cash flow of $253 million; free cash flow of $187 million.
Uni-Select synergies accelerated and increased from $55 million to $65 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
LKQ is reiterating its full year adjusted earnings per share and free cash flow guidance, but lowered the range of its organic revenue growth guidance and GAAP earnings per share guidance.
Positive Outlook
- Adjusted diluted EPS: $3.90 to $4.20
- Operating cash flow: $1.35 billion
- Free cash flow: $1.0 billion
- Free cash flow conversion of Adjusted EBITDA: 50% to 60%
Challenges Ahead
- Organic revenue growth for parts and services: 2.5% to 4.5%
- Diluted EPS: $3.32 to $3.62
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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