LKQ Q2 2020 Earnings Report
Key Takeaways
LKQ Corporation reported a decrease in revenue by 19.1% year-over-year, reaching $2.6 billion. Net income decreased by 21.2% to $119 million, with a diluted EPS of $0.39. However, operating cash flow increased by 56% to $718 million, and free cash flow increased by 66% to $686 million. The company reduced borrowings by $552 million and maintained liquidity of $2.5 billion as of June 30, 2020.
Second quarter 2020 revenue was $2.6 billion, a decrease of 19.1% year-over-year.
Parts and services organic revenue declined 16.8%.
Net income was $119 million, a decrease of 21.2% year-over-year, with diluted EPS of $0.39, down 18.8%.
Operating cash flow increased by 56% to $718 million, and free cash flow increased by 66% to $686 million.
LKQ
LKQ
LKQ Revenue by Segment
LKQ Revenue by Geographic Location
Forward Guidance
The operating environment continues to evolve, and while the Company's second quarter performance exceeded expectations, there remains a high degree of uncertainty about the ongoing rate and shape of the COVID-19 recovery. As a result, the Company is not providing new fiscal 2020 guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income