LKQ Corporation Posts Strong Earnings for Quarter Three

LKQ Corporation, parent company of PGW Auto Glass, had a strong third quarter. The company reported an 11.7-percent revenue increase in comparison to 2016’s third quarter, totaling $2.47 billion. These figures are according to the company’s latest financial statement.

“We had solid operating results across all of our segments during the quarter,” said Dominick Zarcone, president and CEO of LKQ. “Our North American segment generated organic revenue growth for parts and services of 2.5 percent on a reported basis and 4.0 percent on a per-day basis … We also delivered strong parts and services organic revenue growth during the quarter in our European segment of 4.4 percent on a reported basis and 5.6 percent on a per-day basis. Additionally, our Specialty segment realized organic revenue growth of 2.7 percent on a reported basis and 4.4 percent on a per-day basis.”

For the nine-month year-to-date basis, revenue was $7.27 billion, up 13 percent from $6.43 billion for the same period in 2016.

During the same nine-month period, cash flow from operations amounted to $449 million, of which $132 million was invested in capital expenditures and other long term assets for continuing  operations, and $253 was allocated to acquisitions.

According to the report, LKQ acquired 11 businesses during the third quarter—two in the U.S., and nine in Europe. Of these acquisitions, five are aftermarket parts businesses, all of which are located in Europe. Year-to-date, the company has acquired 21 businesses.

As of September 30, the balance sheet had cash equivalents of $275 million and outstanding debt of $3.1 billion. The company’s credit facility availability was $1.3 billion.

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