LKQ Corp Files Q3 2024 10-Q
Ticker: LKQ · Form: 10-Q · Filed: Oct 24, 2024 · CIK: 1065696
Sentiment: neutral
Topics: 10-Q, financials, automotive
TL;DR
LKQ Q3 2024 10-Q is in. Financials look steady.
AI Summary
LKQ Corp filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter and the year-to-date. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the automotive parts and services industry.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of LKQ Corp, crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.
Key Numbers
- 5846 — Street Number (Part of LKQ Corp's business address)
- 37013 — ZIP Code (Part of LKQ Corp's business address)
- 615-781-5200 — Phone Number (LKQ Corp's business phone)
Key Players & Entities
- LKQ Corp (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-10-24 (date) — Filing date
- Dominick Zarcone (person) — Director and Executive Officer
FAQ
What were the key financial results for the third quarter of 2024?
The filing covers the period ending September 30, 2024, and provides financial details for the third quarter, though specific dollar amounts for revenue and profit are not detailed in the provided header information.
What is LKQ Corp's primary business sector?
LKQ Corp operates in the Wholesale - Motor Vehicles & Motor Vehicle Parts & Supplies sector, with SIC code 5010.
When is LKQ Corp's fiscal year end?
LKQ Corp's fiscal year ends on December 31.
Who is listed as a Director and Executive Officer?
Dominick Zarcone is listed as a Director and Executive Officer.
What is the filing date for this 10-Q?
This 10-Q filing was made on October 24, 2024.
Filing Stats: 4,804 words · 19 min read · ~16 pages · Grade level 14.6 · Accepted 2024-10-24 15:16:01
Key Financial Figures
- $0.30 — Dividends declared to LKQ stockholders ($0.30 per share) — — — — — ( 79 ) — — ( 79 )
- $0.275 — Dividends declared to LKQ stockholders ($0.275 per share) — — — — — ( 73 ) — — ( 73 )
- $0.90 — Dividends declared to LKQ stockholders ($0.90 per share) — — — — — ( 240 ) — — ( 240
- $0.825 — Dividends declared to LKQ stockholders ($0.825 per share) — — — — — ( 221 ) — — ( 221
Filing Documents
- lkq-20240930.htm (10-Q) — 2141KB
- lkq-ex221_20240930.htm (EX-22.1) — 34KB
- lkq-ex311_20240930.htm (EX-31.1) — 10KB
- lkq-ex312_20240930.htm (EX-31.2) — 10KB
- lkq-ex321_20240930.htm (EX-32.1) — 5KB
- lkq-ex322_20240930.htm (EX-32.2) — 5KB
- 0001065696-24-000125.txt ( ) — 9889KB
- lkq-20240930.xsd (EX-101.SCH) — 61KB
- lkq-20240930_cal.xml (EX-101.CAL) — 60KB
- lkq-20240930_def.xml (EX-101.DEF) — 378KB
- lkq-20240930_lab.xml (EX-101.LAB) — 643KB
- lkq-20240930_pre.xml (EX-101.PRE) — 539KB
- lkq-20240930_htm.xml (XML) — 1821KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements: Unaudited Condensed Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended S e ptember 30 , 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30 , 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 50
Controls and Procedures
Item 4. Controls and Procedures 51
OTHER INFORMATION
PART II OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 52
Risk Factors
Item 1A. Risk Factors 52
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 52
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 52
Other Information
Item 5. Other Information 53
Exhibits
Item 6. Exhibits 54 SIGNATURES 55 2 PART I FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Income (In millions, except per share data) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue $ 3,584 $ 3,568 $ 10,998 $ 10,365 Cost of goods sold 2,191 2,178 6,712 6,189 Gross margin 1,393 1,390 4,286 4,176 Selling, general and administrative expenses 971 979 2,991 2,848 Restructuring and transaction related expenses 20 27 99 53 Depreciation and amortization 92 76 268 195 Operating income 310 308 928 1,080 Other expense (income): Interest expense 66 62 196 150 Gains on foreign exchange contracts - acquisition related (1) — ( 3 ) — ( 49 ) Interest income and other income, net ( 8 ) ( 14 ) ( 17 ) ( 34 ) Total other expense, net 58 45 179 67 Income from continuing operations before provision for income taxes 252 263 749 1,013 Provision for income taxes 63 60 216 263 Equity in earnings of unconsolidated subsidiaries 3 4 3 9 Income from continuing operations 192 207 536 759 Net income from discontinued operations — 1 — 1 Net income 192 208 536 760 Less: net income attributable to continuing noncontrolling interest 1 — 2 1 Net income attributable to LKQ stockholders $ 191 $ 208 $ 534 $ 759 Basic earnings per share: Income from continuing operations $ 0.73 $ 0.77 $ 2.02 $ 2.84 Net income from discontinued operations — 0.01 — — Net income 0.73 0.78 2.02 2.84 Less: net income attributable to continuing noncontrolling interest — — — — Net income attributable to LKQ stockholders $ 0.73 $ 0.78 $ 2.02 $ 2.84 Diluted earnings per share: Income from continuing operations $ 0.73 $ 0.77 $ 2.02 $ 2.83 Net income from discontinued operations — 0.01 — — Net income 0.73 0.78 2.02 2.83 Less: net income attributable to continuing noncontrolling interest — — 0.01 — Net income attributable to LKQ stockholders $ 0.73 $ 0.78 $ 2.01 $ 2.83 (1) Related to the Uni-Select Inc. ("Uni-Select") acqui