LKQ Corp Expects FY23 Organic Revenue Growth for Parts and Services of 4.75%-5.75% (Prior 6.0%-7.5%) and Adj EPS $3.68-$3.82 (Prior $3.90-$4.10) Vs. $3.96 Est
Portfolio Pulse from Benzinga Newsdesk
LKQ Corp has revised its FY23 outlook, expecting a lower organic revenue growth for parts and services of 4.75%-5.75%, down from the previous 6.0%-7.5%. The adjusted EPS is also expected to be lower at $3.68-$3.82, compared to the prior estimate of $3.90-$4.10. However, the company expects a slight increase in operating cash flow and free cash flow.
October 26, 2023 | 10:15 am
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LKQ Corp has lowered its FY23 outlook for organic revenue growth and adjusted EPS. This could potentially impact investor sentiment and the company's stock price.
The company's revised outlook indicates a potential slowdown in growth, which could negatively impact investor sentiment and lead to a decrease in the stock price. The increase in operating and free cash flow might mitigate some of the negative impact.
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