LKQ Reports Record Revenue in Q3
Nov. 1, 2013—LKQ Corporation reported record revenue of $1.3 billion for the third quarter of 2013, a year-over-year increase of 27.7 percent, according to financial data released Thursday.
Net income totaled $73 million, a year-over-year increase of 35.9 percent, and diluted earnings per share increased 33.3 percent to $0.24.
“Organic revenue growth for parts and services in the quarter of 11.7 percent remains strong with North America and Europe increasing 6.2 percent and 32.9 percent, respectively,” said Robert L. Wagman, president and CEO of LKQ Corporation. “Our improved operating margin in the quarter was driven by our ability to leverage our distribution network to improve efficiencies across our core operating segments.”
On a nine-month, year-to-date basis, revenue was $3.75 billion, an increase of 22.6 percent from $3.06 billion for the comparable period of 2012. Net income for the first nine months of 2013 was $234 million, as compared to $199 million for the first nine months of 2012.