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Lkq Corporation  (LKQ)
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Price: $51.2200 $-0.29 -0.563%
Day's High: $51.715 Week Perf: -1.31 %
Day's Low: $ 51.35 30 Day Perf: 4.17 %
Volume (M): 22 52 Wk High: $ 59.38
Volume (M$): $ 1,153 52 Wk Avg: $51.45
Open: $51.35 52 Wk Low: $41.49



 Market Capitalization (Millions $) 13,737
 Shares Outstanding (Millions) 268
 Employees 46,000
 Revenues (TTM) (Millions $) 13,763
 Net Income (TTM) (Millions $) 871
 Cash Flow (TTM) (Millions $) 30
 Capital Exp. (TTM) (Millions $) 432

Lkq Corporation

LKQ Corporation is a global distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories.
Buyers of vehicle replacement products have the option to purchase from primarily five sources: new products produced by original equipment manufacturers ("OEMs"); new products produced by companies other than the OEMs, which are sometimes referred to as aftermarket products; recycled products obtained from salvage vehicles; used products that have been refurbished; and used products that have been remanufactured. We distribute a variety of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, recycled collision and mechanical products, refurbished collision products such as wheels, bumper covers and lights, and remanufactured engines. Collectively, we refer to these products as alternative parts because they are not new OEM products.

We are the nation’s largest provider of alternative vehicle collision replacement products and a leading provider of alternative vehicle mechanical replacement products, with our sales, processing, and distribution facilities reaching most major markets in the U.S. and Canada. We are also a leading provider of alternative vehicle replacement and maintenance products in the United Kingdom and the Benelux region (Belgium, Netherlands, & Luxembourg) of continental Europe. In addition to our wholesale operations, we operate self service retail facilities across the U.S. that sell recycled automotive products from end-of-life-vehicles. With our 2014 acquisition of Keystone Automotive Holdings, Inc. (“Keystone Specialty”), we are also a leading distributor of specialty vehicle products and accessories reaching most major markets in the U.S. and Canada.

We are focused on creating economic value for our stockholders by enhancing our position as a leading source for alternative collision and mechanical repair products, and by expanding into other product lines and businesses that may benefit from our operating strengths. We believe a supply network with a broad inventory of quality alternative collision and mechanical repair products, specialty vehicle aftermarket products, high fulfillment rates, and superior customer service provides us with a competitive advantage.


Other than OEMs, the competition in the markets that we serve is extremely fragmented and the supply of products tends to be localized, often leading to low fulfillment rates, particularly with recycled products. In North America, the distribution channels for aftermarket and refurbished products have historically been distinct and separate from those for recycled and remanufactured products despite serving the same customer segment. We provide value to our customers by bringing these two channels together to provide a broader product offering and more efficient distribution process.


To execute our strategy in North America, we have expanded our network of parts warehouses and dismantling plants in major metropolitan areas and employ a distribution system that allows for order fulfillment from regional warehouses located across the U.S. and Canada. By increasing local inventory levels and expanding our network to provide timely access to a greater range of parts, we have increased fulfillment rates beyond the levels that we believe most of our competitors realize, particularly for recycled products.


In our European operations, we will continue to develop our existing branch networks in the U.K. and Benelux markets and add locations where needed. In the U.K., we have undertaken a major project to expand our distribution capabilities in Tamworth. This project is expected to be completed in 2018. Between now and completion, we will incur some duplicate operating and other start-up costs, which may be material, as a result of having multiple warehouses during the build out phase. In the Benelux markets, we will continue the integration of the distributor acquisitions we have completed in that market and look for further expansion opportunities. We continue to look for opportunities to lever our growing presence in Europe through reduced cost of goods purchased and a lower total cost structure. Over time we anticipate further integration of our European operations as we optimize purchasing, cataloging, logistics and back-office functions. Assuming we are successful in our acquisition of Rhiag, we expect to follow similar strategies in its respective markets.


Sources of high quality, reliable alternatives to OEM products are important to insurance companies and to our direct customers as they seek to control repair costs. Lower parts costs and quicker completion of orders save money and reduce repair times. We believe that we provide customers (and indirectly, insurance companies) with a value proposition that includes high quality products at a lower cost than new OEM products, extensive product availability due to our expansive distribution network, responsive service, and quick delivery. The breadth of our alternative parts offerings allows us to serve as a "one-stop" solution for our customers looking for the most cost effective way to provide quality repairs. In order to execute this strategy and build on our progress thus far, we will continue to seek to expand into new markets, and to improve penetration both organically and through acquisitions.


Similarly in our Specialty operations, the supplier base for the specialty vehicle aftermarket parts and accessories market is highly fragmented, typically consisting of suppliers that are small to medium-sized, independent businesses that focus on a narrow product or market niche. While our Specialty operations had an extensive distribution network already in place, we integrated the distribution network for our North American and Specialty operations to create synergies and efficiencies with our existing infrastructure. We believe this provides added value to our customers through a broader product offering and more efficient distribution process.



   Company Address: 500 West Madison Street Chicago 60661 IL
   Company Phone Number: 621-1950   Stock Exchange / Ticker: NASDAQ LKQ
   


   

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Financing Agreement

Balancing Act: LKQ Corporation Treads Challenging Terrain as Income per Employee Drops Amid Senior Notes Pricing

Published Wed, Feb 28 2024 8:45 PM UTC



CHICAGO, Feb. 28, 2024 - LKQ Corporation (Nasdaq: LKQ), a leading provider of auto and truck parts, recently made headlines with the announcement of its pricing for 750,000,000 senior notes due 2031. The company's wholly-owned subsidiary, LKQ Dutch Bond B.V., will be responsible for the offering, set to close on or about March 13, 2024, pending customary closing co...

Dividend

LKQ Corporation Strengthens Commitment to Shareholders with Increased Dividend Amidst Challenging Market Conditions

Published Thu, Oct 26 2023 9:57 AM UTC



In a recent press release, LKQ Corporation (Nasdaq: LKQ) announced an increase to its quarterly cash dividend, signaling the company's commitment to effectively navigate market challenges. The Board of Directors declared a dividend of $0.30 per share of common stock, reflecting a 9% increase compared to the previous quarter. This decision marks LKQ's second consecu...

Earnings announcement

LKQ Corporation Streamlines Operations with Divestiture of GSF Car Parts, Bolsters Financial Position for Future Growth.

Published Wed, Oct 25 2023 2:02 PM UTC

LKQ Corporation Completes Divestiture of GSF Car Parts to Epiris, Aids in Debt Reduction and Capital Allocation Strategy
Chicago, October 25, 2023 - LKQ Corporation (Nasdaq: LKQ) has recently announced the successful sale of GSF Car Parts (GSF) to Epiris Fund III (Epiris), a private equity fund based in the United Kingdom. The divestiture of this business unit fulfills ...






 

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