LKQ Posts $3.32B Q3 Revenue Ahead of Full Earnings Release
LKQ is trading near its 52-week low of $21.17 (3.2% below the low).
Summary
LKQ disclosed third-quarter revenue of $3.32B in a Dow Jones Newswires item, an early read on results ahead of the full report. The company now sees third-quarter parts and services organic revenue down 5.4%, with European parts and services organic revenue down 9.8%. It expects adjusted EPS of 47c to 53c and a loss per share of 6c to 12c, and will post 42c per share in non-cash impairment charges. The figure lands after a rough second quarter, when revenue of $3.4B missed the $3.48B consensus and management cut its full-year outlook on a slower European recovery. The stock sits near its 52-week low, so the top line is the number that matters most right now. The company is also working through a strategic review that could result in a sale of a business unit, plus disclosed securities litigation.
At the time of this announcement, LKQ was trading at $20.50 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $5.7B. The 52-week trading range was $21.17 to $37.13. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.