Starting September 1, the management team of LKQ Europe and Fource welcomes Alex Gelbcke, a well-known and highly respected automotive industry veteran. There will be a transition period until the end of 2020, at which time Alex will take over the position of CEO from current CEO, Sinon Galvin. Gelbcke will take over daily management […]
Jacob Welch Joins LKQ Board of Directors
LKQ Corporation (NASDAQ: LKQ) announced that it has appointed Jacob H. Welch of ValueAct Capital to its Board of Directors effective today. Joseph Holsten, Chairman of LKQ Corporation stated, “We are delighted to welcome Jake to LKQ’s Board. Jake’s investment management track record and public market experience will further complement the diverse skills and experience […]
LKQ Reports Sales Down 19.1% in Second Quarter Compared to 2019
Company reports its improved performance in April and May continued in June as economy reopened. LKQ Corporation (NASDAQ:LKQ) today reported second quarter 2020 revenue of $2.6 billion down 19.1% from $3.2 billion in the second quarter of 2019. For the quarter, parts and services organic revenue decreased 16.8% year-over-year, while the net impact of acquisition […]
LKQ Europe Reports Continuing Recovery Across Business
LKQ Europe CEO Arnd Franz says that while volume is below pre-pandemic levels, they are seeing continued growth in its business. “After a significant slump in the spare parts business at the beginning of April, the market will not return to its former level so quickly, but we are seeing continuous recovery of the workshop […]
LKQ Reports Sales Better Than Expected So Far in Second Quarter Down 25%
The company provided a business update and announced amendments to credit facility. LKQ Corporation (NASDAQ:LKQ) today said that while the COVID-19 pandemic continues to have a negative impact on its global operations, the effect through May has not been as significant as the company expected when it announced its first quarter results. According to the […]
LKQ Corporation Files Lawsuit Against General Motors Seeking to Have Collision Repair Part Design Patents Ruled Invalid
Federal lawsuit alleges vehicle manufacturer is seeking to undermine aftermarket parts supplier’s business relationships and seeks to change license agreement terms. LKQ Corporation filed a lawsuit in an Illinois Federal Court seeking a judgment against General Motors over the infringement and validity of collision repair part design patents. The lawsuit, LKQ Corporation and Keystone Automotive […]
LKQ Reports First Quarter Revenue Down Versus Prior Year on Coronavirus Impact
LKQ Corporation (NASDAQ:LKQ) today announced revenue for the first quarter of 2020 was $3.0 billion, a decrease of 3.2% as compared to $3.1 billion in the first quarter of 2019. For the first quarter of 2020, parts and services organic revenue decreased 3.5% and 4.7% on a per day basis. Net income for the first […]
LKQ Completes Sale of Two Czech Distributors
LKQ Corporation (Nasdaq: LKQ) announced that it has closed its previously announced agreement to sell its equity interests in two Czech wholesale automotive parts distributors to Swiss Automotive Group AG. Terms of the transaction were not disclosed. Dominick Zarcone, President and Chief Executive Officer of LKQ, stated, “This divestiture reinforces our ongoing commitment to rationalizing […]
LKQ Reports Full Year 2019 Sales Up 5.3%
LKQ Corporation (NASDAQ:LKQ) today reported revenue for the fourth quarter of 2019 of $3.01 billion, an increase of 0.2% as compared to $3.00 billion in the fourth quarter of 2018. For the fourth quarter of 2019, parts and services organic revenue increased 0.9%, and acquisition revenue growth was 0.2%, while the impact of exchange rates […]
Tyler Threadgill Named VP of Government Affairs at LKQ
LKQ Corporation announced it has hired Tyler Threadgill as Vice President of Federal Government Affairs. Mr. Threadgill will join LKQ’s Washington, D.C. office and assist in growing the company’s government affairs presence with a primary focus on federal government legislative policy and regulation. “LKQ is excited to have Tyler join our growing Government Affairs team, […]