LKQ Corp., which owns NTP-Stag, reported record revenue for the second quarter of 2015 of $1.84 billion, an increase of 7.5 percent, compared to $1.71 billion in the second quarter of 2014.
Net income for the second quarter of 2015 was $119.7 million, an increase of 14.1 percent as compared to $104.9 million for the same period of 2014. Diluted earnings per share of $0.39 for the second quarter ended June 30 increased 14.7 percent from $0.34 for the second quarter of 2014.
The company noted that adjusted diluted earnings per share for the second quarter 2015 was $0.39 compared to $0.35 for the second quarter of 2014 after adjusting each of the periods for net losses resulting from restructuring and acquisition related expenses and the change in fair value of contingent consideration liabilities.
“We are very pleased with our operating results during the quarter even though the headwinds of scrap prices and exchange rate fluctuations we faced in the first quarter of 2015 continued in the second quarter,” LKQ President and Chief Executive Officer Robert Wagman said.
On a six-month year-to-date basis, revenue was $3.61 billion, an increase of 8.3 percent from $3.34 billion for the comparable period of 2014. Parts and services organic revenue growth for the first six months of 2015 was 7.5 percent. Net income for the first six months of 2015 was $226.8 million, as compared to $209.5 million for the first half of 2014. Diluted earnings per share was $0.74 for the first six months of 2015, as compared to $0.69 for the comparable period of 2014.