LKQ Q2 Profit Up, Matches Estimates

(RTTNews) - LKQ Corp. (LKQ), Thursday reported an increase in net income for the second quarter, backed by higher revenues. Earnings also matched analysts estimates.

For the three-month period, the company reported net income of $76 million or $0.25 per share, an 18.3 percent increase from prior year's $64 million or $0.21 per share.

On average, twelve analysts polled by Thomson Reuters expected earnings per share of $0.25 for the quarter. Analysts' estimates typically exclude one-time items. Revenues for the period increased 24.4 percent to $1.25 billion, from $1.01 billion during the comparable period last year. Analysts expected the company to report revenues of $1.19 billion for the quarter.

The company upgraded its full-year earnings per share range to $1.03 to $1.09 from $1.03 to $1.10 previously announced. Organic revenue growth is expected to be 8.5 percent to 10.5 percent now, up from 6.5 percent to 8.5 percent announced earlier.