LKQ Corp. announced that its board of directors has authorized a $1 billion increase and a two-year extension to its stock repurchase program, raising the aggregate authorization under the program to $2 billion and authorizing repurchases through Oct. 25, 2024. Since initiating the stock repurchase plan in October 2018, 25 million shares have been repurchased for a total consideration of $830 million through June 30, 2021.

Varun Laroyia, executive vice president and CFO of LKQ Corp., stated, “The expanded stock repurchase program reflects our continued confidence in the company’s future performance, long-term cash flow generation and the success of the program. The strength of our business, balance sheet, capacity for strategic investments and disciplined approach to capital allocation positions us to deliver on our commitment of driving stockholder value creation.”