Press release
LKQ Corporation Announces Results for Fourth Quarter and Full Year 2024
Fourth quarter revenue of $3.4 billion; annual revenue of $14.4 billionFourth quarter organic revenue for parts and services decreased 3.6%; annual decreased
About this update from Lkq Corporation
[{"type":"text","content":"Fourth quarter revenue of $3.4 billion; annual revenue of $14.4 billionFourth quarter organic revenue for parts and services decreased 3.6%; annual decreased 2.2%Fourth quarter diluted EPS2 of $0.60; fourth quarter adjusted diluted EPS1,2 of $0.80Annual diluted EPS2 of $2.62; annual adjusted diluted EPS1,2 of $3.48Annual operating cash flow of $1.1 billion; free cash flow1 of $0.8 billionRepurchased $80 million of LKQ shares in the fourth quarter of 2024Exceeded commitment of returning 50% FCF to shareholders by returning over 80% in 2024 through share repurchases ($360 million) and cash dividends ($318 million)2025 outlook provided ANTIOCH, Tenn., Feb. 20, 2025 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq: LKQ) today reported fourth quarter and full year 2024 financial results. “The LKQ team focused on our core strengths to manage difficult market conditions in 2024 and position the Company for greater success in the future. I am proud of the team’s strong finish. Specifically, our Europe segment achieved an EBITDA margin of 10.1% in the quarter, which is a record for the segment in the fourth quarter. This was the third consecutive quarter the Europe segment attained double-digit EBITDA margins, and the Europe segment achieved its highest level of EBITDA dollars for a full year in 2024,” stated Justin Jude, President and Chief Executive Officer. “We will continue to emphasize portfolio simplification, operational excellence and profitable growth to deliver long-term value to our shareholders.” Fourth Quarter and Full Year 2024 Financial Results Revenue for the fourth quarter of 2024 was $3.4 billion, a decrease of 4.1% compared to $3.5 billion for the fourth quarter of 2023. Parts and services organic revenue decreased 3.6% (4.5% decrease on a per day basis), the net impact of acquisitions and divestitures decreased revenue by 0.7%, and foreign exchange rates decreased revenue by 0.3% year over year, for a total parts and services revenue decrease of 4.5%. Other revenue grew 6.2% primarily due to higher commodities volumes, partially offset by lower scrap steel prices relative to the same period in 2023. Net income2 for the fourth quarter of 2024 was $156 million compared to $184 million for the same period of 2023. Diluted earnings per share2 was $0.60 compared to $0.69 for the same period of 2023, a decrease of 13.0%. On an a...