Automotive parts company LKQ (NASDAQ: LKQ) will be announcing earnings results tomorrow morning. Here’s what to expect.
LKQ missed analysts’ revenue expectations by 2% last quarter, reporting revenues of $3.36 billion, down 4.1% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ adjusted operating income estimates but organic revenue in line with analysts’ estimates.
Is LKQ a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting LKQ’s revenue to decline 2.4% year on year to $3.61 billion, a reversal from the 10.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.78 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. LKQ has missed Wall Street’s revenue estimates four times over the last two years.
Looking at LKQ’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Nike’s revenues decreased 9.3% year on year, beating analysts’ expectations by 2.3%, and Monarch reported revenues up 3.1%, topping estimates by 2.1%. Nike traded down 5.4% following the results.
Read our full analysis of Nike’s results here and Monarch’s results here.
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