WASHINGTON (dpa-AFX) - (Adds Outlook)
LKQ Corp. (LKQ) revealed earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $177 million, or $0.66 per share. This compares with $194 million, or $0.72 per share, in last year's fourth quarter.
Excluding items, LKQ Corp reported adjusted earnings of $226 million or $0.84 per share for the period.
Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 16.7% to $3.50 billion from $3.00 billion last year.
Outlook
For fiscal 2024, LKQ expects earnings per share in the range of $3.43 to $3.73, and adjusted earnings per share in the range of $3.90 to $4.20.
Analysts expect the company to report earnings of $4.11 per share.
Organic revenue growth for parts and services is expected to be 3.5% to 5.5%.
In pre-market activity on Nasdaq, LKQ shares were losing around 2.6 percent to trade at $49.
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