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Lkq Corp (LKQ) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

Lkq Corp

CIK: 1065696 Ticker: LKQ
Exhibit 99.1
lkqpressreleaseimagea.jpg


LKQ CORPORATION ANNOUNCES RESULTS FOR FOURTH QUARTER AND FULL YEAR 2021

Fourth quarter 2021 revenue of $3.2 billion (up 7.9% year-over-year); annual revenue of $13.1 billion (up 12.6% year-over-year)
Fourth quarter 2021 parts and services organic revenue increased 6.6% (7.3% on a per day basis); annual increase of 7.9% (8.3% on a per day basis)
Fourth quarter 2021 diluted EPS1 of $0.81 (up 37.3%); adjusted diluted EPS1,2 of $0.87 (up 26.1%)
Annual diluted EPS1 of $3.66 (up 75.1%); adjusted diluted EPS1,2 of $3.96 (up 55.3%)
Annual operating cash flow of $1.4 billion; free cash flow2 of $1.1 billion
Stock buyback program invested $877 million for 17.2 million shares in 2021
Dividend of $0.25 per share approved to be paid in the first quarter of 2022
2022 outlook provided

Chicago, IL (February 17, 2022) -- LKQ Corporation (Nasdaq:LKQ) today reported fourth quarter and full year 2021 results that reflect continued progress with our operational excellence program and strategic initiatives.
“We delivered solid results in the fourth quarter, and it was a strong finish to a great year. Despite facing significant supply chain disruptions, labor shortages, and inflationary pressures, we delivered the most profitable year in the history of the Company. I want to thank our global teams for delivering on our strategic initiatives in 2021 by focusing on profitable revenue growth, sustainable margin expansion, and driving high levels of cash flow,” noted Dominick Zarcone, President and Chief Executive Officer. “The continued robust cash flow generation enabled us to maintain our balanced capital allocation policy, and through our stock repurchase program and inaugural quarterly dividend payment, we returned $950 million to our stockholders in 2021.”
Fourth Quarter and Full Year 2021 Financial Results
Revenue for the fourth quarter of 2021 was $3.2 billion, an increase of 7.9% as compared to $3.0 billion in the fourth quarter of 2020. For the fourth quarter of 2021, parts and services organic revenue increased 6.6% (7.3% on a per day basis), while the net impact of acquisitions and divestitures increased revenue 1.7% and foreign exchange rates decreased revenue 0.8%, for a total parts and services revenue increase of 7.5%. Other revenue grew 13.1% in the fourth quarter of 2021 driven by higher scrap steel prices, partially offset by lower precious metal prices.
Net income1 for the fourth quarter of 2021 was $236 million as compared to $180 million for the same period in 2020, an increase of 30.6%. Diluted earnings per share1 for the fourth quarter was $0.81 as compared to $0.59 for the same period of 2020, an increase of 37.3%.

1 References in this release to Net income and Diluted earnings per share, and the corresponding adjusted figures, reflect amounts from continuing operations attributable to LKQ stockholders.
2 Non-GAAP measure. See the table accompanying this release that reconciles the actual or forecasted U.S. GAAP measure to the actual or forecasted adjusted measure, which is non-GAAP.


The following information was filed by Lkq Corp (LKQ) on Thursday, February 17, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Lkq Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income Statement
Consolidated Statements Of Stockholders' Equity
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) Additional Information (Details)
Accumulated Other Comprehensive Income (Loss) Schedule Of Accumulated Other Comprehensive Income (Loss) (Details)
Business
Changes In Carrying Amount Of Goodwill (Details)
Changes In Warranty Reserve (Details)
Components Of Other Intangibles (Details)
Derivative Instruments And Hedging Activities (Details)
Derivative Instruments And Hedging Activities (Notes)
Derivative Instruments And Hedging Activities (Tables)
Discontinued Operations (Details)
Discontinued Operations (Notes)
Discontinued Operations Results Of Discontinued Operations (Details)
Earnings Per Share Earnings Per Share (Notes)
Earnings Per Share Earnings Per Share, Basic And Diluted (Details)
Earnings Per Share Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share (Tables)
Earnings Per Share Schedule Of Earnings Per Share, Basic And Diluted (Tables)
Employee Benefit Plans (Details)
Employee Benefit Plans (Notes)
Employee Benefit Plans (Tables)
Equity Incentive Plans
Equity Incentive Plans (Tables)
Equity Incentive Plans - Additional Information (Details)
Fair Value Measurements (Details)
Fair Value Measurements (Notes)
Fair Value Measurements (Tables)
Income Taxes (Notes)
Income Taxes - Additional Information (Details)
Income Taxes Income Taxes (Tables)
Leases (Details)
Leases (Notes)
Leases (Tables)
Long-Term Obligations
Long-Term Obligations (Tables)
Long-Term Obligations - Additional Information (Details)
Noncontrolling Interest (Details)
Reconciliation Of Segment Ebitda To Net Income (Details)
Restructuring And Acquisition Related Expenses (Notes)
Restructuring And Acquisition Related Expenses - Additional Information (Details)
Revenue Recognition Disaggregation Of Revenue (Details)
Revenue Recognition Disaggregation Of Revenue (Tables)
Revenue Recognition Movement In Standard Product Warranty Accrual (Details)
Revenue Recognition Product Warranty Liability (Tables)
Revenue Recognition Revenue Recognition (Policies)
Revenue Recognition Revenue Reconition (Notes)
Schedule Ii - Valuation And Qualifying Accounts And Reserves (Details)
Schedule Ii - Valuation And Qualifying Accounts And Reserves (Notes)
Schedule Of Antidilutive Securities Excluded From Computation Of Diluted Earnings Per Share (Details)
Schedule Of Assets By Reportable Segment (Details)
Schedule Of Capital Expenditures By Reportable Segment (Details)
Schedule Of Financial Performance By Reportable Segment (Details)
Schedule Of Long-Term Obligations (Details)
Schedule Of Long-Term Obligations (Parenthetical) (Details)
Schedule Of Stock-Based Compensation Expense Expected To Be Recognized (Details)
Schedule Of Tangible Long-Lived Assets By Geographic Area (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Additional Information (Details)
Segment And Geographic Information Schedule Of Revenue By Geographic Area (Details)
Stock-Based Compensation Schedule Of Stock Option Activity (Details)
Stock-Based Compensation Schedule Of Unvested Restricted Stock Units Activity (Details)
Summary Of Signficant Accounting Policies Equity Method Investments (Details)
Summary Of Signficant Accounting Policies Finite-Lived Intangible Assets Acquired As Part Of Business Combination (Tables)
Summary Of Signficant Accounting Policies Schedule Of Estimated Useful Lives (Details)
Summary Of Signficant Accounting Policies Schedule Of Inventory (Details)
Summary Of Signficant Accounting Policies Schedule Of Property And Equipment (Details)
Summary Of Signficant Accounting Policies Treasury Stock (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Government Assistance (Details)
Ticker: LKQ
CIK: 1065696
Form Type: 10-K Annual Report
Accession Number: 0001065696-22-000006
Submitted to the SEC: Fri Feb 25 2022 4:18:27 PM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Wholesale Motor Vehicles And Motor Vehicle Parts And Supplies

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