LKQ's Q3 Earnings & Revenue Beat Estimates, Outlook Updated

LKQ Corporation (NASDAQ:LKQ) , based in Chicago, IL, is a provider of recycled OEM automotive replacement parts and related services. It has operations in North America, Europe and Taiwan.

Estimate Trend & Surprise History

Investors should note that the third-quarter 2017 earnings estimate for LKQ Corp has remained unchanged of late.

LKQ Corp has beaten the Zacks Consensus Estimate in two of the trailing four quarters with an average miss of around 1.02%. Investors have been eagerly awaiting LKQ’s latest earnings report to see whether it outperforms in this quarter.

LKQ Corporation Price and EPS Surprise

LKQ Corporation Price and EPS Surprise | LKQ Corporation Quote

Earnings

LKQ Corp’s adjusted earnings were 45 cents per share in the third quarter of 2017, beating the Zacks Consensus Estimate of 42 cents. The prior-year quarter figure was also 45 cents.

Revenues

LKQ Corp reported record revenues of $2.47 billion, up 11.7% year over year. Revenues also surpassed the Zacks Consensus Estimate of $2.37 billion. Solid growth across all segments contributed to the revenue growth of the company.

Key Stats/Developments to Note

For 2017, LKQ Corp expects Organic revenue growth for parts & services in the range of 4-4.5% revising from prior guidance of 4-5.25%. Adjusted income from continuing operations is expected between $575−$595 million, from the prior expectation of $570−$595 million. Adjusted earnings per share in 2017 is expected to be in the range of $1.86–$1.92, as against the prior expectation of $1.84–$1.92.

Zacks Rank

LKQ Corp currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on LKQ Corp’s earnings report!

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