LKQ Slumps After Disappointing Q2 Results, Full-Year Outlook Cut: Details
Portfolio Pulse from Nabaparna Bhattacharya
LKQ Corporation (NASDAQ:LKQ) shares dropped 12.5% after the company reported disappointing Q2 results, missing both earnings and revenue estimates. The company also lowered its full-year guidance for revenue growth and adjusted EPS.
July 25, 2024 | 3:03 pm
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LKQ Corporation reported Q2 adjusted EPS of 98 cents, missing the consensus of $1.03, and revenues of $3.71 billion, below the expected $3.87 billion. The company also lowered its FY24 guidance for revenue growth and adjusted EPS.
The significant miss on both earnings and revenue, coupled with the lowered full-year guidance, indicates a negative short-term impact on LKQ's stock price. The 12.5% drop in share price reflects investor disappointment and concern over future performance.
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