BUZZ-LKQ tumbles after lowering annual profit forecast
LKQ•Quarterly results miss estimates
The company said second-quarter adjusted earnings came in at 67 cents/share, missing analysts' estimates of 71 cents/share according to data compiled by LSEG.
Including the session's moves, shares are down 29.4% year to date.
LKQ cuts full-year profit outlook
Shares of auto parts supplier LKQ slumped 18% to $21.73 in morning trading after the company cut its full-year adjusted profit forecast on weaker demand for auto parts and repair services in its European markets.
The company now expects 2026 adjusted profit of $2.60/share to $2.90/share, down from its prior estimate of $2.90/share to $3.20/share.
Revenue growth guidance also lowered
LKQ forecast organic revenue growth for parts and services to decline by 1% to 3%, compared with previous guidance for a 0.5% decline to 1.5% growth.
