LKQ Corporation ($LKQ) Stock Forecast: Down 12.4% Today

What is LKQ Corporation?

LKQ Corporation (NASDAQ: LKQ) is a company that offers automotive products and services across North America, Europe, and Taiwan, catering to the vehicle repair industry.

Why is LKQ Corporation going down?

LKQ stock is down 12.4% on Jul 25, 2024 16:59

• Following the announcement of Q2 results, LKQ stock faced a downturn due to earnings per share and revenue figures falling below analyst projections.
• The company's adjusted earnings per share of 98 cents missed the anticipated $1.03, while quarterly revenues of $3.71 billion fell short of the expected $3.87 billion.
• A decline in net income from $281 million in the same period last year to $185 million in Q2 2024, coupled with lower-than-expected cash flow numbers, impacted market sentiment negatively.
• LKQ's downward adjustment of the full-year outlook exacerbated the negative market response, resulting in a drop in the stock price.

LKQ Price Chart

LKQ Technical Analysis

LKQ News

LKQ Slumps After Disappointing Q2 Results, Full-Year Outlook Cut: Details

LKQ Corporation (NASDAQ: LKQ ) shares are trading lower on Thursday after the company reported second-quarter results. The company reported adjusted earnings per share of 98 cents, missing the analyst consensus of $1.03 . Quarterly revenues of $3.71 billion (+7.6%), missed the street view of $3.87 billion. Net income for the second quarter of 2024 was $185 million compared to $281 million for the same period of 2023. Cash flow from operations and free cash flow were $213 million and $133 million, respectively, for the second quarter of 2024. As of June-end, the balance sheet … Full story available on Benzinga.com

https://www.benzinga.com/news/earnings/24/07/39961765/lkq-slumps-after-disappointing-q2-results-full-year-outlook-cut-details

LKQ Stock Earnings: LKQ Misses EPS, Misses Revenue for Q2 2024

LKQ (NASDAQ:LKQ) just reported results for the second quarter of 2024. LKQ reported earnings per share of 98 cents. This was below the analyst estimate for EPS of $1.03. The company reported revenue of $3.71 billion. This was 4.11% worse than the analyst estimate for revenue of $3.87 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

https://investorplace.com/earning-results/2024/07/lkq-stock-earnings-lkq-for-q2-of-2024/

LKQ (LKQ) Lags Q2 Earnings and Revenue Estimates

LKQ (LKQ) came out with quarterly earnings of $0.98 per share, missing the Zacks Consensus Estimate of $1.03 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for non-recurring items.

https://bankb.it/lkq-lkq-lags-q2-earnings-and-revenue-estimates-17341.html

LKQ: Q2 Earnings Snapshot

CHICAGO (AP) — CHICAGO (AP) — LKQ Corp. (LKQ) on Thursday reported second-quarter earnings of $185 million. The Chicago-based company…

https://wtop.com/news/2024/07/lkq-q2-earnings-snapshot-2/

LKQ misses top-line and bottom-line estimates; narrows FY24 outlook

LKQ press release (LKQ): Q2 Non-GAAP EPS of $0.98 misses by $0.05. Revenue of $3.7B (+7.2% Y/Y) misses by $170M. Second quarter operating cash flow of $213 million; free cash flow of $133M

https://seekingalpha.com/news/4128130-lkq-misses-top-line-and-bottom-line-estimates-narrows-fy24-outlook?feed_item_type=news

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LKQ Corporation Price History

23.03.2024 - LKQ Stock was down 8.0%

• Missed Q1 revenue estimates, with a 10.6% year-on-year increase to $3.70 billion.
• Non-GAAP profit per share decreased to $0.82 from $1.04 in the same quarter last year.
• Q1 profit declined, falling short of expectations, leading to a bearish movement in the stock.
• The downward revision of net income per share guidance for the full year by the CFO further contributed to the negative sentiment surrounding LKQ.

26.09.2023 - LKQ Stock was down 5.2%

• LKQ declared a higher quarterly dividend, which usually indicates confidence in the company's financials. However, this news did not prevent the bearish movement.
• LKQ reported a decrease in profit for the third quarter, missing Street estimates. This disappointing earnings result likely contributed to the bearish market movement.
• The company's CEO mentioned a combination of unusual, transitory items in Europe, soft commodity prices, and difficult market conditions impacting certain segments. These factors may have added to investor concerns and contributed to the bearish movement.
• Despite experiencing strong organic growth in certain segments and generating robust free cash flow, LKQ's overall performance was overshadowed by the negative factors mentioned above.

23.03.2024 - LKQ Stock was down 13.5%

• LKQ's stock dropped by over 13% due to disappointing Q1 earnings that missed both EPS and revenue estimates, indicating a challenging beginning to the year.
• The company's net income for Q1 of 2024 experienced a notable decrease compared to the same period in 2023, exacerbating the negative market sentiment.
• LKQ's downward revision of net income per share guidance for the full year raised investor worries, resulting in a significant stock price decline.
• The market's response underscores the significance of meeting analyst expectations in the competitive automotive parts industry, where any deviation can strongly influence stock performance.

25.06.2024 - LKQ Stock was down 14.1%

• LKQ reported Q2 earnings below expectations, with earnings per share falling short of estimates.
• The company cited lower repairable claims in North America and challenging economic conditions in Europe as reasons for the decline in overall volumes.
• The appointment of Andrew Clarke to the board of directors brings expertise in logistics, transportation, and operations, which could potentially help LKQ navigate through its current challenges.
• The market reacted bearishly to the disappointing earnings report and the underlying issues affecting LKQ's performance in different regions.

25.06.2024 - LKQ Stock was down 12.4%

• Following the announcement of Q2 results, LKQ stock faced a downturn due to earnings per share and revenue figures falling below analyst projections.
• The company's adjusted earnings per share of 98 cents missed the anticipated $1.03, while quarterly revenues of $3.71 billion fell short of the expected $3.87 billion.
• A decline in net income from $281 million in the same period last year to $185 million in Q2 2024, coupled with lower-than-expected cash flow numbers, impacted market sentiment negatively.
• LKQ's downward adjustment of the full-year outlook exacerbated the negative market response, resulting in a drop in the stock price.