LKQ Q4 Topline Misses By A Whisker, Eyes Organic Revenue Growth In Each Of Its Operating Segments
Portfolio Pulse from Akanksha Bakshi
LKQ Corp reported a 16.6% year-over-year sales growth in Q4 fiscal 2023, reaching $3.50 billion but slightly missing the consensus of $3.51 billion. Parts and services organic revenue grew by 2.8%. The company saw a contraction in gross margin and operating income, but adjusted EPS improved to $0.84, beating the consensus. LKQ declared a quarterly dividend of $0.30 per share and repurchased shares. The 2024 outlook includes an adjusted EPS of $3.90-$4.20 and organic revenue growth of 3.5% - 5.5%. LKQ shares rose 3.3% to $51.99.
February 22, 2024 | 4:11 pm
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POSITIVE IMPACT
LKQ Corp reported a slight miss in Q4 sales but exceeded EPS expectations. The company announced a dividend and shared a positive 2024 outlook, leading to a 3.3% increase in stock price.
Despite the slight miss in Q4 sales, LKQ's better-than-expected EPS and the announcement of a dividend likely contributed to positive investor sentiment. The optimistic 2024 outlook, including expected organic revenue growth and adjusted EPS within analyst expectations, further supports a positive short-term impact on LKQ's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100