LKQ earns record revenue in 2011
Feb 24, 2012—LKQ Corp. on Thursday announced the company earned record revenue of $3.3 billion in 2011, a 32 percent increase over its $2.47 billion revenue in 2010.
LKQ’s 2011 income from continuing operations was $210.3 million, and diluted earnings per share (EPS) was $1.42, a 23 percent increase over the $1.15 reported for 2010, according to the company.
"We completed a successful 2011 with a solid fourth quarter. In 2011, the company surpassed $3 billion in revenue for the first time, and achieved double digit total organic revenue growth and diluted EPS growth despite the headwinds of high fuel costs, the high cost of salvage vehicles and the reduction in miles driven that we faced throughout the year,” said Robert Wagman, president and CEO of LKQ. “We made 21 acquisitions in 2011, including the purchase of Euro Car Parts. The financial performance of these businesses and their integration into our existing operations is progressing as expected.”
LKQ said it anticipates up to a 7.5 percent organic revenue growth from parts and services in 2012. In addition, the company projects 2012 income from continuing operations will range between $258 million and $278 million, and diluted EPS from continuing operations will range between $1.72 and $1.85.
LKQ is the largest nationwide provider of aftermarket, recycled and refurbished collision replacement parts, according to the company. LKQ operates 440 facilities in the United States, United Kingdom, Canada, Mexico and Central America. For more information, visit lkqcorp.com.