LKQ Q4 Results Miss Estimates; Sees FY23 Profit In Line With View

(RTTNews) - LKQ Corp. (LKQ) reported that its net income attributable to stockholders for the fourth quarter of 2022 declined to $194 million or $0.72 per share from $236 million or $0.81 per share last year.

Adjusted earnings per share for the fourth quarter was $0.78 compared to $0.87 for the same period of 2021, a decrease of 10.3%. Analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the fourth quarter of 2022 was $3.00 billion, a decrease of 5.8% as compared to $3.2 billion in the fourth quarter of 2021. On a constant currency basis, fourth quarter revenue decreased by 0.1%. Analysts expected revenue of $3.02 billion for the quarter.

For 2023, the company projects earnings per share to be in the range of $3.68 to $3.98, adjusted earnings per share of $3.90 to $4.20. Analysts expect annual earnings of $4.07 per share.

The company expects annual organic revenue growth for parts and services to be 6.0% to 8.0%.

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