LKQ Corp., parent company of Keystone Automotive, which owns RV parts and accessories distributor NTP-Stag, reported record revenue for the second quarter of 2018 of $3 billion, an increase of 23.3 percent as compared to $2.46 billion in the second quarter of 2017.
For the second quarter of 2018, parts and services organic revenue growth was 7.2 percent and acquisition revenue growth was 12.7 percent, while the impact of exchange rates was 2.9 percent, for total parts and services revenue growth of 22.8 percent.
“I am very pleased with the 7.2 percent organic parts and services revenue growth we achieved in the quarter as it reflects a sequential organic revenue growth rate improvement in each of our North American, European and Specialty segments, which witnessed organic parts and services growth of 7.4 percent, 8.3 percent and 4.1 percent, respectively,” said Dominick Zarcone, president and CEO of LKQ Corp. “This growth reflected a reversal of some of the transitory items noted in our commentary in the first quarter of 2018, as well as better than expected performance in each business.”
On a six-month, year-to-date basis, revenue was $5.75 billion, an increase of 19.8 percent from $4.80 billion for the comparable period of 2017. Parts and services organic revenue growth for the first six months of 2018 was 5.5 percent.
Net income from continuing operations attributable to LKQ stockholders for the first six months of 2018 was $310 million, an increase of 6.3 percent as compared to $292 million for the first half of 2017.