LKQ Corp. has reported revenue for the second quarter of 2019 of $3.25 billion, an increase of 7.2 percent as compared to $3 billion in the second quarter of 2018. For the second quarter of 2019, parts and services organic revenue declined 2.1 percent, and acquisition revenue growth was 12.6 percent, while the impact of exchange rates was (2.5 percent), for total parts and services revenue growth of 8 percent.
Net income for the second quarter of 2019 was $150 million, a decrease of 4.2 percent year-over-year.
“We continued to make progress on our key productivity initiatives during the second quarter, which are having a positive impact on our financial and operational performance,” said Dominick Zarcone, president and CEO of LKQ. “We delivered this performance notwithstanding difficult revenue growth comparisons across all of our operating segments, a soft collision environment in the U.S. and the ongoing macroeconomic challenges and the impact of one less selling day in Europe.”
On a six-month year-to-date basis, revenue was $6.3 billion, an increase of 10.4 percent from $5.8 billion for the comparable period of 2018. Parts and services organic revenue for the first six months of 2019 declined 1.1 percent.
Net income for the first six months of 2019 was $248 million, a decrease of 19.9 percent as compared to $310 million for the first half of 2018.
During the second quarter of 2019, LKQ repurchased approximately 4.4 million shares of its common stock returning approximately $120 million of capital to its stockholders. Since initiating our plan in late October 2018, LKQ has repurchased 9.3 million shares for a total of $251 million.