Lkq Corp Stock Price, News & Analysis

LKQ has been recognized as a “3+” company by 50/50 Women on Boards™ for having three or more women on its corporate board of directors, constituting 27% of board seats. This positive representation supports increased profitability, productivity, and workplace engagement. Dominick Zarcone, CEO, highlighted that 36% of the board comprises individuals from underrepresented groups, emphasizing a commitment to maintaining this diversity. The recognition reflects the growing trend among investors to value diverse boards for their potential business benefits.

LKQ Corporation has authorized a $500 million increase to its stock repurchase program, raising total program authorization to $2.5 billion through October 25, 2024. Since launching the program in October 2018, LKQ has repurchased 37.3 million shares for approximately $1.5 billion. The company's CFO cited strong balance sheet strength and free cash flow expectations as reasons for this expansion. This buyback initiative aims to boost shareholder value while balancing growth investments.

LKQ Corporation (Nasdaq: LKQ) will host an Investor Day on June 1, 2022, at its Nashville, Tennessee headquarters, starting at 10:00 a.m. Eastern time. Executive management will present, followed by a question and answer session concluding around 1:15 p.m. Eastern time. The event will be webcasted, with access through the Investor Relations section on www.lkqcorp.com, and a replay available the next day. LKQ Corporation is a leading provider of automotive parts across North America, Europe, and Taiwan.

LKQ Corporation reported first quarter 2022 revenue of $3.3 billion, a 5.6% year-over-year increase. Parts and services organic revenue grew by 6.9%. Diluted EPS reached $0.94, up 6.8%, with an adjusted EPS of $1.00, increasing 6.4%. Operating cash flow was $409 million and free cash flow stood at $350 million. The company initiated a $144 million stock buyback and declared a $0.25 dividend payable in June 2022. LKQ raised its 2022 organic revenue growth outlook to 4.5% to 6.5% and updated diluted EPS to $3.57 to $3.87.

On April 20, 2022, LKQ Corporation (Nasdaq: LKQ) announced the completion of its sale of PGW Auto Glass to One Equity Partners for $362 million, with adjustments post-closing. PGW generated nearly $400 million in revenue in 2021, boasting a 10% EBITDA margin. The financial results for PGW will be reflected in LKQ's continuing operations until the April 18 closing date. BofA Securities served as financial advisor for this transaction.

LKQ Corporation's credit rating has been upgraded by S&P Global Ratings to 'BBB-' from 'BB+', reflecting its operational success and enhanced financial stability. This upgrade reduces collateral requirements on its senior secured revolving credit facility, allowing for increased free cash flow, enhancing capital allocation opportunities for growth and shareholder returns. The outlook remains stable, indicating confidence in continued performance.

LKQ Corporation (Nasdaq: LKQ) is set to announce its first quarter 2022 financial results on April 28, 2022. A conference call will be held that same day at 8:00 a.m. Eastern Time, featuring senior management discussions. Investors can join the call by dialing (888) 330-3494 or (646) 960-0860 for international access, using conference ID: 5232422#. Additionally, an audio webcast and accompanying presentation will be available on LKQ's Investor Relations website. A replay of the call will be accessible until May 13, 2022.

On March 24, 2022, BetterInvesting Magazine announced Adobe Inc. (NASDAQ: ADBE) as its "Stock to Study" and LKQ Corp (NASDAQ: LKQ) as its "Undervalued Stock" for the June/July 2022 issue. This selection aims to educate investors amidst market volatility, highlighting the importance of regular investing. The committee emphasizes the significant performance of major indices, marking their best week since November 2020. For more insights on these stocks, visit BetterInvesting's platform for comprehensive analysis tools.