LKQ Corp., parent company of NTP-STAG, has reported revenue of $2.95 billion in the fourth quarter, which is down 1.9 percent over the same period a year ago. Net income for the quarter of 2020 was $180 million an increase of 28.6 percent over the same period last year.
Revenue for the full year of 2020 was $11.6 billion, a decrease of 7 percent as compared to $12.5 billion for the same period of 2019. Net income for the full year of 2020 was $639 million as compared to $541 million for the same period in 2019, an increase of 18.1 percent.
“Our focus throughout the COVID-19 crisis has been the health and safety of our employees as well as our customers. Despite the headwinds we faced throughout 2020, we were able to execute on our key operating initiatives of pursuing profitable revenue, enhanced margins, and free cash flow generation. Additionally, the cost reductions our teams implemented in 2020 to confront the pandemic’s impact on demand are lessons that we will apply to our operations in 2021 and beyond,” said Dominick Zarcone, president and CEO. “We again delivered strong quarterly results, with the fourth quarter 2020 being the second-highest quarterly earnings, and highest fourth-quarter earnings, in the company’s history.”
