LKQ Q1 Earnings Rise, Beat View; Backs Full-Year EPS Guidance

(RTTNews) - Auto parts provider LKQ Corp. (LKQ) Tuesday reported a growth in earnings for the first quarter, chiefly attributable to a significant increase in revenue. Both earnings and revenue topped analysts estimates. The company also reiterated its earnings outlook for 2014.

For the first quarter, net earnings rose to $104.65 million or $0.34 per share, from $84.59 million or $0.28 per share in the same period last year.

Excluding certain items, earnings per share were $0.35. On average, 13 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.34 for the quarter. Analysts' estimates typically exclude one-time items.

EBITDA grew to $202.96 million from $159.4 million a year ago.

Revenue for the 3-month period rose to $1.626 billion from $1.196 billion a year earlier. Analysts expected revenues of $1.58 billion.

For 2014, the company continues to expect adjusted earnings of $400 million to $430 million, or $1.30 to $1.40 per share. Analysts expect earnings of $1.37 per share for the year.