LKQ tumbles as it pulls FY outlook, names new CEO
LKQ•LKQ withdrew its FY26 guidance, citing weak performance in Europe, and said preliminary Q3 adjusted profit per share would be $0.47 to $0.53, below the $0.69 estimate. The company named Salvatore Abbate CEO effective December 15, 2026, replacing Justin Jude, who is stepping down immediately.
1. Outlook withdrawn
LKQ said it was withdrawing FY26 guidance because of weak performance in Europe. The company forecast preliminary Q3 adjusted profit per share of $0.47 to $0.53, compared with an estimate of $0.69. It attributed Europe’s underperformance to ERP implementation disruptions in Germany and volume declines in the UK and Benelux.
2. CEO change
LKQ appointed former Veritiv CEO Salvatore Abbate as CEO, effective December 15, 2026. He succeeds Justin Jude, who has been CEO since 2024 and is stepping down effective immediately. LKQ shares fell more than 16% in premarket trading.
