Lkq Corp Stock Price, News & Analysis

LKQ Corporation announced the definitive agreement to sell PGW Auto Glass to One Equity Partners for a transaction expected to close in Q2 2022, pending regulatory approvals. PGW generated nearly $400 million in revenue with a 10% EBITDA margin in 2021. CEO Dominick Zarcone emphasized the divestiture aligns with LKQ's strategy to rationalize its portfolio by shedding non-core assets. BofA Securities is advising LKQ on the deal. Financial details of the transaction remain undisclosed.

LKQ Corporation has announced its sponsorship of the Women’s Industry Network (WIN) as a Platinum sponsor for 2022. This initiative aims to enhance the role of women in the collision repair industry by promoting education, professional advancement, and networking opportunities. Genevieve Dombrowski, Senior Vice President of Human Resources, emphasized the importance of fostering an inclusive culture. Amanda Allen, Director of Employee Experience, highlighted WIN's commitment to improving female retention and attracting more women to the industry.

LKQ Corporation reported strong financial results for Q4 and the full year of 2021. Revenue reached $3.2 billion in Q4, up 7.9% year-over-year, while annual revenue totaled $13.1 billion, reflecting a 12.6% increase. Fourth-quarter diluted EPS rose to $0.81, a 37.3% increase. The company generated $1.4 billion in operating cash flow and returned $950 million to shareholders via stock buybacks and dividends. For 2022, LKQ anticipates organic revenue growth of 3% to 5% and diluted EPS between $3.50 and $3.80.

LKQ Corporation will announce its fourth quarter and full year 2021 financial results on February 17, 2022. The company will hold a conference call and webcast at 8:00 a.m. Eastern Time to discuss these results with senior management. Investors can join the call by dialing (833) 236-5754 or (647) 689-4182 for international access, using conference ID: 6894188#. A replay will be available post-presentation. LKQ is a leading provider of alternative and specialty parts for automobiles, with operations in North America, Europe, and Taiwan.

LKQ Corporation will be featured on the EARTH with John Holden television series airing on December 19, 2021, on Fox Business Network and December 26 on Bloomberg TV. The segment will highlight LKQ's role as the world's largest vehicle recycler, emphasizing its eco-friendly practices. Interviews with key management will take place at LKQ's Casa Grande, Arizona facility, showcasing their commitment to sustainability by recycling over 90% of materials from procured vehicles. The segment is also available on various streaming platforms.

LKQ Corporation has launched its inaugural ‘LKQ Cares Holiday Vote’ program, beginning on Giving Tuesday, November 30, 2021, and running through December 12, 2021. The company is donating $500,000 to ten philanthropic organizations, with the allocation determined by votes from stakeholders including employees and investors. Each organization will receive an initial $10,000, with the remaining $400,000 distributed based on the vote results. The donations will be finalized by January 2022, reflecting LKQ's commitment to impactful charitable engagement.

LKQ Corporation reported a robust third quarter for 2021, achieving $3.3 billion in revenue, a year-over-year increase of 8.2%. The company recorded a diluted EPS of $0.96, reflecting a 50% increase compared to the previous year. Operating cash flow was $429 million with a free cash flow of $384 million. LKQ also repurchased 4.3 million shares for $219 million and announced its first quarterly dividend of $0.25 per share. The full-year outlook has been raised, anticipating diluted EPS between $3.48 and $3.58.

LKQ Corporation (Nasdaq:LKQ) has declared its first quarterly cash dividend of $0.25 per share, scheduled for payment on December 2, 2021, to stockholders of record by the close of business on November 11, 2021. President and CEO Dominick Zarcone stated that this dividend and the ongoing stock repurchase program are vital for enhancing shareholder value. The company boasts a solid balance sheet and strong free cash flow, which support its strategic initiatives aimed at long-term growth and operational excellence.