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Chicago-based LKQ Corp., parent of distributors Keystone Automotive and NTP-STAG, today (July 26) reported record revenue for the second quarter of 2018 of $3.03 billion, an increase of 23.3% as compared to $2.46 billion in the second quarter of 2017.

For the second quarter, parts and services organic revenue growth was 7.2% and acquisition revenue growth was 12.7%, while the impact of exchange rates was 2.9%, for total parts and services revenue growth of 22.8%.

Net income attributable to LKQ stockholders for the second quarter was $157 million, up 4% year-over-year. On an adjusted basis, net income attributable to LKQ stockholders was $192 million, an increase of 17.6% as compared to the $163 million for the same period of 2017. Diluted earnings per share attributable to LKQ stockholders for the second quarter was 50 cents as compared to 49 centsa year ago, an increase of 2.0%. On an adjusted basis, diluted earnings per share attributable to LKQ stockholders for the second quarter was 61 cents, an increase of 15.1% as compared to 53 cents for the same period of 2017.

Dominick Zarcone, LKQ president and CEO, stated, “I am very pleased with the 7.2% 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%, 8.3% and 4.1%, respectively. 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. I am particularly proud of the ability of our European teams to address the challenges we faced in the first quarter and deliver a 130 basis point improvement in sequential Segment EBITDA margin.”

On a six-month year-to-date basis, revenue was $5.75 billion, an increase of 19.8% from $4.80 billion for the comparable period of 2017. Parts and services organic revenue growth was 5.5% while net income from continuing operations attributable to LKQ stockholders was $310 million, an increase of 6.3% as compared to $292 million for the first half of 2017.

Diluted earnings per share from continuing operations attributable to LKQ stockholders was 99 cents, an increase of 5.3% as compared to 94 cents for the same period of 2017. On an adjusted basis, diluted earnings per share from continuing operations attributable to LKQ stockholders was $1.16, an increase of 13.7% as compared to $1.02 a year ago.

To view the full report click here.