LKQ Corp. has reported revenue for the fourth quarter of 2019 of $3.01 billion, an increase of 0.2% as compared to $3 billion in the fourth quarter of 2018. For the fourth quarter of 2019, parts and services organic revenue increased 0.9%, and acquisition revenue growth was 0.2%, while the impact of exchange rates was (1.0%), for total parts and services revenue growth of 0.1%.
Net income for the fourth quarter of 2019 was $140 million compared to $40 million for the same period in 2018, an increase of 247% year-over-year. Diluted earnings per share for the fourth quarter was 46 cents as compared to 13 cents for the same period of 2018, an increase of 254% year-over-year.
On an adjusted basis, net income was $167 million, an increase of 10% as compared to $151 million for the same period of 2018. Adjusted diluted earnings per share for the fourth quarter was 54 cents as compared to 48 cents for the same period of 2018, a 13% increase.
“Looking back on 2019, our team worked hard to deliver on our three key initiatives of focusing on profitable revenue growth, sustainable margin expansion, and enhancing levels of cash flow. In 2019, our effective working capital management allowed us to produce the highest annual operating and free cash flow figures in the company’s history. I am also pleased with our North America segment, which improved year-over-year segment EBITDA margins by 100 basis points,” said Dominick Zarcone, president and CEO of LKQ Corp. “In fiscal 2020, we will continue to focus on our productivity initiatives across each operating segment while managing the ongoing macro headwinds in Europe and the uncertainties relating to other geopolitical events.”
For the full year of 2019, revenue was $12.5 billion, an increase of 5.3% from $11.9 billion for the comparable period of 2018. Parts and services organic revenue growth for the full year of 2019 was 0.3%.
Net income for the full year of 2019 was $541 million, an increase of 12% as compared to $485 million for the same period of 2018. Diluted earnings per share for the full year of 2019 was $1.74, an increase of 14% as compared to $1.53 for the same period of 2018.
On an adjusted basis for the full year of 2019, net income was $736 million, an increase of 7% as compared to $691 million for the same period of 2018. Adjusted diluted earnings per share for the full year of 2019 was $2.37 as compared to $2.19 for the same period of 2018, an 8% increase.
