Press release
LKQ Corporation Announces Results for Fourth Quarter and Full Year 2022
Fourth quarter 2022 revenue of $3.0 billion; parts and services organic revenue increased 4.5% (5.9% on a per day basis); annual increase of 5.0% (5.2% on a
About this update from Lkq Corporation
[{"type":"text","content":"Fourth quarter 2022 revenue of $3.0 billion; parts and services organic revenue increased 4.5% (5.9% on a per day basis); annual increase of 5.0% (5.2% on a per day basis)Record fourth quarter segment EBITDA margins for Wholesale - North America and Europe of 18.5% (330 basis point increase) and 10.0% (110 basis point increase), respectivelyFourth quarter 2022 diluted EPS2 of $0.72 (down 11.1%); adjusted diluted EPS1,2 of $0.78 (down 10.3%)Higher tax provision than prior guidance lowered fourth quarter 2022 diluted EPS2 and adjusted diluted EPS1,2 by $0.05Fourth quarter negative effect of $0.03 from increased interest expenseAnnual diluted EPS2 of $4.11 (up 12.3%); adjusted diluted EPS1,2 of $3.85 (down 2.8%)Annual operating cash flow of $1.25 billion; free cash flow1 of $1.0 billionDividend of $0.275 per share approved to be paid in the first quarter of 2023Deployed $1.04 billion in 2022 to repurchase 20.5 million shares2023 outlook provided CHICAGO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today reported fourth quarter and full year 2022 financial results. “The fourth quarter was a solid operational finish to 2022. Our Wholesale - North America and Europe segments again delivered outstanding organic revenue growth and solid margins, exceeding our expectations for the quarter and year. Importantly, our global teams delivered these results in the midst of rampant inflation, supply chain disruptions, a tight labor market, lower commodity prices, and volatile exchange rates. The execution of our strategy, the resiliency of our business model, and the strength of our balance sheet have the Company well positioned to continue its success and performance in 2023,” noted Dominick Zarcone, President and Chief Executive Officer. Fourth Quarter and Full Year 2022 Financial Results Revenue for the fourth quarter of 2022 was $3.0 billion, a decrease of 5.8% as compared to $3.2 billion in the fourth quarter of 2021. On a constant currency basis1, fourth quarter revenue decreased by 0.1%. For the fourth quarter of 2022, parts and services organic revenue increased 4.5% (5.9% on a per day basis), while the net impact of acquisitions and divestitures decreased revenue by 3.1% and foreign exchange rates decreased revenue by 6.1%, for a total parts and services revenue decrease of 4.8%. Other revenue fell 20.1% in the fourt...