LKQ Corp., parent company of NTP-STAG, reported Q4 revenue of $3 billion, down slightly from the $3.2 billion in the fourth quarter of 2021. Net income for the quarter was down as well – $194 million, compared with $236 million during the same period a year ago.
“The fourth quarter was a solid operational finish to 2022,” said Dominick Zarcone, LKQ’s president and CEO. “Our wholesale – North America and Europe segments again delivered outstanding organic revenue growth and solid margins, exceeding our expectations for the quarter and year. Importantly, our global teams delivered these results in the midst of rampant inflation, supply chain disruptions, a tight labor market, lower commodity prices and volatile exchange rates. The execution of our strategy, the resiliency of our business DA3odel, and the strength of our balance sheet have the company well positioned to continue its success and performance in 2023.”
For the full year 2022, LKQ reported revenue of $12.8 billion, down slightly from $13.1 billion in 2021. Net income last year was $1.1 billion, a slight increase over the $1 billion of 2021.
“Our 2023 annual guidance reflects our ongoing commitment of creating long-term value for our stockholders through our operational excellence initiatives of driving profitable growth, implementing ongoing margin enhancement programs, and generating robust levels of free cash flow through disciplined capital spending and active working capital management,” said Rick Galloway, senior vice president and chief financial officer. “As we navigate this period of macro uncertainty and non-operational headwinds, we expect healthy demand for our products and services, solid organic growth and sustained operating momentum across our industry leading business segments.”