Auto parts supplier LKQ beats quarterly revenue estimates on strong North America demand

LKQ Corporation

LKQ Corporation

LKQ

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April 30 (Reuters) - LKQ Corp LKQ.O beat Wall Street expectations for first-quarter revenue on Thursday, aided by growing demand for auto parts and services in North America.

Here are the details:

  • Shares of the Tennessee-based company were up 4% in afternoon trading.

  • The auto parts supplier said it was implementing productivity and restructuring initiatives to help mitigate the impact of ongoing macroeconomic and cost pressures.

  • It added it was seeing continued strength in North America and early signs of stabilization in Europe for its products and services.

  • Revenue for the quarter ended March 31 came at $3.47 billion, beating analysts' estimates of $3.4 billion, according to data compiled by LSEG.

  • First-quarter adjusted earnings fell 9.5% to 67 cents per share from the prior year, compared with estimates of 68 cents per share.


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