Axalta Coating Systems Ltd. announced its financial results for the first quarter ended March 31, 2016. The company reported net sales of $955.6 million for the first quarter of 2016 increased 3.0 percent year-over-year excluding unfavorable foreign currency translation. Sales decreased 3.4 percent as-reported. Net sales growth was driven by 5.1 percent higher average selling […]
LKQ Reports 8.3% Revenue Growth in First Quarter
The LKQ Corporation today reported record revenue for the first quarter of 2016 of $1.92 billion, an increase of 8.3 percent as compared to $1.77 billion in the first quarter of 2015. Net income for the first quarter of 2016 was $107.7 million, an increase of 0.6 percent as compared to $107.1 million for the […]
Uni-Select Reports Paint Segment Sales up 17.3% in First Quarter
Uni-Select Inc., (TSE:UNS) the parent company of FinishMaster with automotive refinish and industrial paint and related products across North America, as well automotive aftermarket parts business in Canada, reported $264.0 million in sales, up 3.2 percent organically and up 10.8 percent in total, excluding divestitures for its first quarter ended March 31, 2016. “I am […]
Fenix Parts Announces Fourth Quarter and Full Year 2015 Results
Fenix Parts, Inc. (NASDAQ: FENX) announced fourth quarter and full year 2015 results. Fenix completed its IPO and the acquisitions of its eight founding companies in May 2015, an acquisition (Ocean County Auto Wreckers) in August 2015 and two additional acquisitions (Butler Auto Sales and Parts and Tri-City Auto Salvage) in October 2015. Consolidated revenues […]
Boyd Group Reports Revenue Up 39% in 2015
The Boyd Group (TSE: BYD.UN), the multiple collision repair facility operator and glass service provider, reported its financial results for both the fourth quarter of 2015 and the full year yesterday. The company also provided guidance for 2016 and a long-term projection of future growth. For the year, sales increased by 39.1 percent to CA$1.2 […]
Ratings Agency Reports U.S. Property/Casualty Insurers’ Operating Profitability Declined in 2015
U.S. Property/casualty insurers’ operating earnings decreased in 2015, highlighting the competitive operating environment and low investment yields that challenge insurers’ earnings growth potential, according to a new report by Fitch Ratings. Favorable reserve development and limited catastrophic loss activity helped to offset sluggish investment income. Fitch’s universe of 45 (re)insurance organization reported an aggregate a […]
State Farm Reports $6.2B Net Income in 2015, Up 47.6% from 2014
Realized capital gains drive net income growth. Auto insurance earned premiums up $1 billion in 2015 versus 2014. Auto underwriting loss widens. The State Farm property-casualty (P-C) companies reported total revenue, which includes premium revenue, earned investment income, and realized capital gains (losses), was $75.7 billion for 2015 compared with $71.2 billion for 2014. State […]
LKQ Reports Revenue Growth of 6.7% in 2015
The collision repair industry part supplier surpassed $7 billion in annual revenue for the first time in 2015. The LKQ Corporation (NASDAQ:LKQ) today announced results for its fourth quarter and full year ended December 31, 2015. For the fourth quarter of 2015, revenue was $1.75 billion compared with $1.68 billion for the fourth quarter of […]
Copart Reports Revenue Up 8.5%
Copart, Inc. (NASDAQ:CPRT) reported financial results for its fiscal second quarter ended January 31. For the quarter, revenue was $299.7 million, representing an increase in revenue of $23.4 million, or 8.5 percent. Gross margin was $124.6 million, an increase of $9.7 million, or 8.5 percent. Net income was $59.0 million, an increase in of $6.8 […]
KAR Acquires Eight Brasher’s Auto Auctions, Announces Earnings
KAR Auction Services, Inc. (NYSE: KAR) announced that its subsidiary, ADESA, Inc., has signed a definitive agreement to acquire eight auctions owned by the Brasher family. Brasher’s eight locations are: Brasher’s Salt Lake, Brasher’s Sacramento, Brasher’s Portland, Brasher’s Boise, Brasher’s San Jose, Brasher’s Northwest, Brasher’s Reno and Brasher’s Fresno. Brasher’s key corporate and local auction […]