LKQ Corp., parent company of NTP-STAG, said Thursday that its revenue for the second quarter was $3.4 billion, an increase of $4.8%. The company had $291 million in adjusted income in the quarter, down from $307 million in Q2 of 2022.
“I am pleased to report strong operational performance for the quarter despite several headwinds, which is a testament to the strength and resilience of our diversified portfolio of businesses. Our largest segments, Wholesale-North America and Europe, produced exceptional second quarter revenue growth and margins by focusing on operational excellence,” said Dominick Zarcone, president and CEO. “These outstanding performances offset a steep year-over-year downturn in commodity prices impacting our self-service segment and the decrease in demand for our specialty segment’s offerings, headwinds that will impact these segments for the balance of 2023. We also had excellent cash flow during the quarter. Taken as a whole, I am very pleased with the results and extremely proud of our global teams.”