LKQ Corp., parent of distributor NTP-Stag Coast, reported revenue for the third quarter of 2016 of $2.39 billion, an increase of 30.3 percent as compared to $1.83 billion in the third quarter of 2015.
Net income for the third quarter of 2016 was $122.7 million, an increase of 21.1 percent as compared to $101.3 million for the same period of 2015.
“The results we achieved in the third quarter reflect the benefits of our increasingly diverse and global operations. We had impressive revenue growth in parts and services of 33.2 percent and growth in adjusted diluted earnings per share of 25 percent in the third quarter. We also continued to realize the benefits associated with the productivity initiatives implemented this year,” stated Robert Wagman, president and chief executive officer of LKQ Corp.
On a nine month year-to-date basis, revenue was $6.76 billion, an increase of 24.2 percent from $5.44 billion for the comparable period of 2015.
Parts and services organic revenue growth for the first nine months of 2016 was 5.1 percent. Net income for the first nine months of 2016 was $377.6 million, as compared to $328.2 million for the same period of 2015.