LKQ Q3: Earnings And Sales Miss, Trims Outlook, Boosts Buyback & More

LKQ (NASDAQ:LKQ) reported third-quarter adjusted earnings per share of 88 cents, missing the street view of 89 cents. Quarterly sales of $3.584 billion missed the analyst consensus of $3.639 billion.

Parts and services organic revenue decreased by 2.8% (4.3% on a per-day basis), while the net impact of acquisitions and divestitures contributed a 3.1% revenue increase.

Additionally, foreign exchange rates boosted revenue by 0.4% year over year, resulting in a total parts and services revenue increase of 0.6%. Other revenue declined by 2.2%, mainly due to lower commodity prices and volumes compared to the same period in 2023.

On an adjusted basis, net income was $230 million compared ...