Press release
LKQ Corporation Announces Results for Fourth Quarter and Full Year 2021
Fourth quarter 2021 revenue of $3.2 billion (up 7.9% year-over-year); annual revenue of $13.1 billion (up 12.6% year-over-year)Fourth quarter 2021 parts and
About this update from Lkq Corporation
[{"type":"text","content":"Fourth quarter 2021 revenue of $3.2 billion (up 7.9% year-over-year); annual revenue of $13.1 billion (up 12.6% year-over-year)Fourth quarter 2021 parts and services organic revenue increased 6.6% (7.3% on a per day basis); annual increase of 7.9% (8.3% on a per day basis)Fourth quarter 2021 diluted EPS1 of $0.81 (up 37.3%); adjusted diluted EPS1,2 of $0.87 (up 26.1%)Annual diluted EPS1 of $3.66 (up 75.1%); adjusted diluted EPS1,2 of $3.96 (up 55.3%)Annual operating cash flow of $1.4 billion; free cash flow2 of $1.1 billion Stock buyback program invested $877 million for 17.2 million shares in 2021Dividend of $0.25 per share approved to be paid in the first quarter of 20222022 outlook provided CHICAGO, Feb. 17, 2022 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today reported fourth quarter and full year 2021 results that reflect continued progress with our operational excellence program and strategic initiatives. “We delivered solid results in the fourth quarter, and it was a strong finish to a great year. Despite facing significant supply chain disruptions, labor shortages, and inflationary pressures, we delivered the most profitable year in the history of the Company. I want to thank our global teams for delivering on our strategic initiatives in 2021 by focusing on profitable revenue growth, sustainable margin expansion, and driving high levels of cash flow,” noted Dominick Zarcone, President and Chief Executive Officer. “The continued robust cash flow generation enabled us to maintain our balanced capital allocation policy, and through our stock repurchase program and inaugural quarterly dividend payment, we returned $950 million to our stockholders in 2021.” Fourth Quarter and Full Year 2021 Financial Results Revenue for the fourth quarter of 2021 was $3.2 billion, an increase of 7.9% as compared to $3.0 billion in the fourth quarter of 2020. For the fourth quarter of 2021, parts and services organic revenue increased 6.6% (7.3% on a per day basis), while the net impact of acquisitions and divestitures increased revenue 1.7% and foreign exchange rates decreased revenue 0.8%, for a total parts and services revenue increase of 7.5%. Other revenue grew 13.1% in the fourth quarter of 2021 driven by higher scrap steel prices, partially offset by lower precious metal prices. Net income1 for the fourth quarter of 2021 was $236...