LKQ (LKQ) Q1 Earnings Report Preview: What To Look For
Stock Story
Published Apr 22, 2024 03:01
Updated Apr 22, 2024 06:47
LKQ (LKQ) Q1 Earnings Report Preview: What To Look For
Stock Story -
Automotive parts company LKQ (NASDAQ:LKQ) will be announcing earnings results tomorrow before the bell. Here's what you need to know.
Last quarter LKQ reported revenues of $3.50 billion, up 16.7% year on year, missing analyst expectations by 0.4%. It was a slower quarter for the company, with a miss of analysts' revenue estimates. On the other hand, EPS came in ahead od expectations.
Is LKQ buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting LKQ's revenue to grow 12.5% year on year to $3.77 billion, improving on the flat year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.95 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at LKQ's peers in the consumer discretionary segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Nike (NYSE:NKE) delivered top-line growth of 0.3% year on year, beating analyst estimates by 1.1% and Carnival (NYSE:CCL) reported revenues up 22% year on year, inline with analysts' estimates. Nike traded down 7% on the results, and Carnival was down 4.1%.
Read the full analysis of Nike's and Carnival's results on StockStory.
Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share price declining 6.4% over the last month. LKQ is down 6% during the same time, and is heading into the earnings with analyst price target of $61.3, compared to share price of $49.12.
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Written By: Stock Story
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