LKQ Corporation (NASDAQ:LKQ) shares were trading higher in the premarket session on Thursday after the company released its first-quarter results.
The company reported quarterly adjusted earnings per share of 79 cents, beating the analyst consensus estimate of 78 cents.
Revenues of $3.46 billion (down 6.5% year over year) missed the street view of $3.56 billion.
“We have formed a dedicated tariff task force comprised of leaders from across our global enterprise to proactively prepare for and navigate the potential opportunities or disruptions that could be caused by the ever-changing tariff landscape,” stated Justin Jude, President and Chief Executive Officer.
Also Read: Northrop Grumman’s Flight Path Recalculated: Analyst Trims Forecast, Reiterates Buy
Quarterly gross margin increased to 39.8% from 39.2% year over year. Adjusted EBITDA in the quarter under review totaled $392 million, compared with $390 million in the year-ago period.
The company exited the quarter with cash and equivalents worth $227 million. Inventories totaled $3.361 billion at quarter end.
Dividend: On April 22, the company declared a quarterly cash dividend of 30 cents per share of common stock, payable on May 29, to stockholders of record at the close of business on May 15.
Outlook:
LKQ affirms FY25 adjusted EPS guidance of $3.40-$3.70 versus the $3.54 estimate.
The firm also maintained the GAAP EPS Guidance of $2.91-$3.21 versus $3.12 estimate.
“We will update our guidance as necessary in future quarters when there is greater clarity regarding the tariff situation,” stated Rick Galloway, senior vice president and chief financial officer.
Price Action: LKQ shares are trading higher by 2.52% to $43.19 premarket at last check Thursday.
Read Next:
Photo: Shutterstock