LKQ Q1 EPS In Line, Lifts FY16 Earnings Outlook

(RTTNews) - LKQ Corp. (LKQ) Thursday announced a slight decline in first quarter net income to $107.73 million from $107.095 million last year. Earnings per share was $0.35, in line with last year.

Revenue for the quarter increased to $1.921 billion from $1.773 billion in the previous year.

Looking ahead, the company raised fiscal 2016 adjusted net income to a range of $545 million to $575 million from its prior range of $490 million to $520 million. Adjusted earnings per share range also is lifted to $1.76 to $1.86, from earlier projection of $1.59 to $1.69 per share.

The company continues to expects organic revenue growth of 6 to 8 percent.

Guidance for 2016 is based on scrap prices remaining at current prices and exchange rates for the British pound, Euro and Canadian dollar holding near current levels. Changes in these figures may impact our ability to achieve the full year earnings and cash flow guidance.