LKQ Corporation’s (LKQ - Free Report) second-quarter 2017 adjusted earnings from continuing operations of 53 cents per share beat the Zacks Consensus Estimate by a penny. The prior-year quarter bottom line was 52 cents.
LKQ Corp registered record revenues of $2.46 billion, up 6.7% year over year. Revenues also surpassed the Zacks Consensus Estimate of $2.41 billion.
In second-quarter 2017, LKQ Corp acquired 7 companies.
Also, during the quarter, European operations of LKQ Corp opened one new branch in the U.K. and 12 new branches in Eastern Europe.
LKQ Corp had cash and cash equivalent of $303.5 million as of Jun 30, 2017, compared with $227.4 million as of Dec 31, 2016.
In the first-half of 2017, LKQ Corp had net cash provided by operating activities of $362.1 million compared with $361.9 million in the first half of fiscal 2016.
For 2017, LKQ Corp expects organic revenue growth for parts & services in the range of 4–5.25%, revising from prior guidance of 4% to 6%.
Adjusted income from continuing operations is expected between $570−$595 million, from the prior expectation of $565−$595 million. Adjusted earnings per share in 2017 are expected to be in the range of $1.84–$1.92, up from the prior expectation of $1.82–$1.92.
Zacks Rank and Top Picks
LKQ Corp currently carries a Zacks Rank #4 (Sell).
Some better-ranked companies in the same space are Allison Transmission Holdings (ALSN - Free Report) , Volkswagen AG (VLKAY - Free Report) and Daimler AG (DDAIF - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has an expected long-term growth rate of 11%.
Volkswagen has expected growth rate of around 17.3% for the long run.
Daimler has an expected long-term growth rate of 2.8%.
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