Used car price gains, near-record alternative parts utilization and easing insurance premiums signal recovery.
LKQ Corporation (NASDAQ: LKQ) reported first-quarter revenue of $3.47 billion, up 4.3% from the year-ago quarter, as foreign currency tailwinds and growth in its Specialty segment offset organic declines in North America and Europe.
Total parts and services revenue increased 3.6%, including a 5.1% benefit from foreign exchange, a 1.6% organic decline and a 0.2% lift from acquisitions and divestitures. North America parts and services organic revenue declined 0.4%, outperforming the company’s estimated 2% to 4% decline in repairable claims. Specialty grew 3.4% organically — its
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