LKQ Corp. has reported revenue for the third quarter of 2016 of $2.39 billion, an increase of 30.3 percent as compared to $1.83 billion in the third quarter of 2015.
Net income for the third quarter of 2016 was $122.7 million, an increase of 21.1 percent as compared to $101.3 million for the same period of 2015. On an adjusted basis, net income was $139.3 million, an increase of 26.8 percent as compared to the $109.9 million for the same period of 2015. Diluted earnings per share for the third quarter of 2016 was 40 cents, an increase of 21.2 percent as compared to 33 cents for the same period of 2015. On an adjusted basis, diluted earnings per share was 45 cents in the third quarter of 2016 reflecting a 25 percent increase over 36 cents for the same period of 2015.
“The results we achieved in the third quarter reflect the benefits of our increasingly diverse and global operations. We had impressive revenue growth in parts and services of 33.2 percent and growth in adjusted diluted earnings per share of 25 percent in the third quarter. We also continued to realize the benefits associated with the productivity initiatives implemented this year,” said Robert Wagman, president and CEO of LKQ Corp. “While there was softness across parts of the global auto industry during the quarter, the company delivered positive organic revenue growth for parts and services of 3.7 percent.”
On a nine-month, year-to-date basis, revenue was $6.76 billion, an increase of 24.2 percent from $5.44 billion for the comparable period of 2015. Parts and services organic revenue growth for the first nine months of 2016 was 5.1 percent. Net income for the first nine months of 2016 was $377.6 million, as compared to $328.2 million for the same period of 2015. Diluted earnings per share was $1.22 for the first nine months of 2016, reflecting a 14 percent increase as compared to $1.07 for the comparable period of 2015.
On an adjusted basis, diluted earnings per share was $1.41 in the first nine months of 2016 reflecting a 22.6 percent increase over $1.15 for the same period of 2015.
