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LKQ Corporation (LKQ - Free Report) delivered adjusted earnings of 80 cents per share for fourth-quarter 2024, which beat the Zacks Consensus Estimate of 75 cents but fell from 84 cents reported in the year-ago period. The aftermarket auto parts distributor registered quarterly revenues of $3.36 billion, missing the Zacks Consensus Estimate of $3.42 billion. The top line also fell from the year-ago level of $3.5 billion. Parts and services organic revenues decreased 3.6% year over year.
See the Zacks Earnings Calendar to stay ahead of market-making news.
In the reported quarter, revenues from the Wholesale North American segment totaled $1.37 billion, falling 6.9% year over year and lagging our estimate of $1.44 billion. The segment’s EBITDA was $231 million, which was above our forecast of $216.1 million but lower than $239 million generated in the fourth quarter of 2023.
Revenues from the European segment were $1.51 billion, which fell 2.3% year over year and missed our estimate of $1.56 billion. The segment’s EBITDA came in at $152 million, which rose from the year-ago level of $129 million and topped our forecast of $132 million.
Revenues from the Specialty segment came in at $349 million, which fell 5.9% year over year but topped our projection of $337.2 million. The segment’s EBITDA was $14 million, which inched down from the year-ago figure of $21 million and lagged our forecast of $17.1 million.
Revenues from the Self-Service segment totaled $131 million, up 11% year over year. The metric also topped our prediction of $100.3 million. The segment’s EBITDA was $11 million, which topped our estimate of $5.7 million and increased from $7 million reported in the year-ago period.
Financial Position & Dividend
LKQ had cash and cash equivalents of $234 million as of Dec. 31, 2024, down from $299 million recorded as of Dec. 31, 2023. The long-term obligations (excluding the current portion) amounted to $4.13 billion as of Dec. 31, 2024, up from $3.66 billion recorded as of Dec. 31, 2023. As of Dec. 31, 2024, LKQ’s balance sheet reflected a total debt of $4.2 billion.
In 2024, cash flow provided by operating activities totaled $1.12 billion. The company recorded a positive free cash flow of $810 million.
During the fourth quarter of 2024, the company repurchased 2.1 million shares worth $80 million. In the period between initiating the stock buyback program in late October 2018 and Dec. 31, 2024, it repurchased around 65 million shares for a total of $2.8 billion.
On Feb. 18, 2025, LKQ announced a quarterly cash dividend of 30 cents per share. The dividend will be paid out on March 27, 2025, to stockholders of record at the close of business on March 13, 2025.
LKQ Provides 2025 Guidance
For 2025, the company anticipates parts and services organic revenue growth in the range of 0-2% year over year. It expects adjusted EPS in the range of $3.40-$3.70 compared with $3.48 in 2024. The company envisions operating cash flow in the range of $1.075-$1.275 billion. It expects free cash flow in the range of $750-$900 million.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings indicates year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for DAN’s 2025 earnings implies year-over-year growth of 79.17%. EPS estimates for 2025 have improved by 20 cents in the past 30 days.
The Zacks Consensus Estimate for GTX’s 2025 sales and earnings indicates year-over-year growth of 2.16% and 17.92%, respectively. EPS estimates for 2025 have improved by a penny in the past 30 days.
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LKQ Q4 Earnings Surpass Expectations, Revenues Decline Y/Y
LKQ Corporation (LKQ - Free Report) delivered adjusted earnings of 80 cents per share for fourth-quarter 2024, which beat the Zacks Consensus Estimate of 75 cents but fell from 84 cents reported in the year-ago period. The aftermarket auto parts distributor registered quarterly revenues of $3.36 billion, missing the Zacks Consensus Estimate of $3.42 billion. The top line also fell from the year-ago level of $3.5 billion. Parts and services organic revenues decreased 3.6% year over year.
See the Zacks Earnings Calendar to stay ahead of market-making news.
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Segment Highlights
In the reported quarter, revenues from the Wholesale North American segment totaled $1.37 billion, falling 6.9% year over year and lagging our estimate of $1.44 billion. The segment’s EBITDA was $231 million, which was above our forecast of $216.1 million but lower than $239 million generated in the fourth quarter of 2023.
Revenues from the European segment were $1.51 billion, which fell 2.3% year over year and missed our estimate of $1.56 billion. The segment’s EBITDA came in at $152 million, which rose from the year-ago level of $129 million and topped our forecast of $132 million.
Revenues from the Specialty segment came in at $349 million, which fell 5.9% year over year but topped our projection of $337.2 million. The segment’s EBITDA was $14 million, which inched down from the year-ago figure of $21 million and lagged our forecast of $17.1 million.
Revenues from the Self-Service segment totaled $131 million, up 11% year over year. The metric also topped our prediction of $100.3 million. The segment’s EBITDA was $11 million, which topped our estimate of $5.7 million and increased from $7 million reported in the year-ago period.
Financial Position & Dividend
LKQ had cash and cash equivalents of $234 million as of Dec. 31, 2024, down from $299 million recorded as of Dec. 31, 2023. The long-term obligations (excluding the current portion) amounted to $4.13 billion as of Dec. 31, 2024, up from $3.66 billion recorded as of Dec. 31, 2023. As of Dec. 31, 2024, LKQ’s balance sheet reflected a total debt of $4.2 billion.
In 2024, cash flow provided by operating activities totaled $1.12 billion. The company recorded a positive free cash flow of $810 million.
During the fourth quarter of 2024, the company repurchased 2.1 million shares worth $80 million. In the period between initiating the stock buyback program in late October 2018 and Dec. 31, 2024, it repurchased around 65 million shares for a total of $2.8 billion.
On Feb. 18, 2025, LKQ announced a quarterly cash dividend of 30 cents per share. The dividend will be paid out on March 27, 2025, to stockholders of record at the close of business on March 13, 2025.
LKQ Provides 2025 Guidance
For 2025, the company anticipates parts and services organic revenue growth in the range of 0-2% year over year. It expects adjusted EPS in the range of $3.40-$3.70 compared with $3.48 in 2024. The company envisions operating cash flow in the range of $1.075-$1.275 billion. It expects free cash flow in the range of $750-$900 million.
LKQ’s Zacks Rank & Key Picks
LKQ carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the auto space are Geely Automobile Holdings Limited (GELYY - Free Report) , Dana Incorporated (DAN - Free Report) and Garrett Motion Inc. (GTX - Free Report) . While GELYY sports a Zacks Rank #1 (Strong Buy), DAN and GTX carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings indicates year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for DAN’s 2025 earnings implies year-over-year growth of 79.17%. EPS estimates for 2025 have improved by 20 cents in the past 30 days.
The Zacks Consensus Estimate for GTX’s 2025 sales and earnings indicates year-over-year growth of 2.16% and 17.92%, respectively. EPS estimates for 2025 have improved by a penny in the past 30 days.