Press release
LKQ Corporation Announces Results for Fourth Quarter and Full Year 2020
Fourth quarter revenue of $3.0 billion (down 1.9% year-over-year); annual revenue of $11.6 billion (down 7.0% year-over-year)Fourth quarter parts and services
About this update from Lkq Corporation
[{"type":"text","content":"Fourth quarter revenue of $3.0 billion (down 1.9% year-over-year); annual revenue of $11.6 billion (down 7.0% year-over-year)Fourth quarter parts and services organic revenue declined 5.2%; annual parts and services organic revenue declined 7.6%Fourth quarter 2020 diluted EPS1 of $0.59 (up 28.3%); adjusted diluted EPS1 of $0.69 (up 27.8%)Annual diluted EPS1 of $2.09 (up 20.1%); adjusted diluted EPS1 of $2.55 (up 7.6%)Record segment EBITDA for North America operations; Europe segment tops second half 2020 segment EBITDA margin outlookAnnual operating cash flow of $1.4 billion (up 35.7%); free cash flow of $1.3 billion (up 59.2%)Net debt leverage down to 1.9x EBITDA2021 outlook provided CHICAGO, Feb. 18, 2021 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today reported fourth quarter and full year 2020 results that reflect continued improvement in operational and balance sheet productivity and further debt reduction, despite softening revenue trends in many markets as a result of mobility restrictions from COVID-19. “Our focus throughout the COVID-19 crisis has been the health and safety of our employees as well as our customers. Despite the headwinds we faced throughout 2020, we were able to execute on our key operating initiatives of pursuing profitable revenue, enhanced margins and free cash flow generation. Additionally, the cost reductions our teams implemented in 2020 to confront the pandemic’s impact on demand are lessons that we will apply to our operations in 2021 and beyond,” noted Dominick Zarcone, President and Chief Executive Officer. “We again delivered strong quarterly results, with the fourth quarter 2020 being the second highest quarterly earnings, and highest fourth quarter earnings, in the Company’s history. Additionally, we achieved our highest level of annual free cash flow at $1.3 billion and North America’s highest annual segment EBITDA margin of 16.8%. Europe completed a strong second half with a Segment EBITDA margin of 8.9%, above the range of 8.0% to 8.5% presented at our September 2020 Investor Day. As we look to the year ahead, I am confident that the strength of our operations, balance sheet and free cash flow all position LKQ for solid growth and value creation for our stakeholders.” Fourth Quarter and Full Year 2020 Financial Results Revenue for the fourth quarter of 2020 was $2.95 billion, a dec...