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Lkq Corp (LKQ) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Lkq Corp

CIK: 1065696 Ticker: LKQ
Exhibit 99.1

LKQ CORPORATION ANNOUNCES RESULTS FOR FOURTH QUARTER AND FULL YEAR 2014

Annual revenue growth of 33% to a record $6.74 billion
Full year 2014 diluted EPS increases 22%
Annual organic revenue growth for parts and services of 9%
Announces 13 new Euro Car Parts branches for 2015

Chicago, IL (February 26, 2015) - LKQ Corporation (Nasdaq:LKQ) today announced results for its fourth quarter and full year ended December 31, 2014. For the fourth quarter, net income was $80.5 million, an increase of 3.3% compared to the fourth quarter of 2013, and diluted earnings per share was $0.26, flat year over year. For the full year 2014, net income was $381.5 million, an increase of 22.4% compared to 2013, and diluted earnings per share was $1.25, a 22.5% increase over the $1.02 reported for 2013. The Company noted that full year 2014 and 2013 diluted earnings per share included charges equal to $0.02 and $0.04, respectively, per share resulting from restructuring and acquisition related expenses, losses on debt extinguishment and the change in fair value of contingent consideration liabilities.

"Despite the worse than expected headwinds of deteriorating scrap prices and currency devaluations we faced during the fourth quarter and their negative effects on our fourth quarter earnings, we delivered solid results for full year 2014 with double digit revenue and diluted earnings per share growth. I am particularly pleased with our parts and services growth of 8.7% for the fourth quarter and 9% for the full year. We also reached a major milestone in 2014 by surpassing $6 billion in annual revenue for the first time,” stated Robert Wagman, President and Chief Executive Officer of LKQ Corporation.

Fourth Quarter 2014 Reported Results

For the fourth quarter of 2014, revenue was $1.68 billion compared with $1.32 billion for the fourth quarter of 2013, an increase of 27.9%. Net income for the fourth quarter was $80.5 million compared with $77.9 million in the prior year, an increase of 3.3%. For the fourth quarter, total organic revenue growth was 7.1%, including parts and services revenue growth of 8.7%. Acquisition revenue growth for the fourth quarter was 22.2%.

Full Year 2014 Reported Results

For the full year of 2014, revenue was $6.74 billion compared with $5.06 billion in 2013, an increase of 33.1%. Net income for the full year was $381.5 million compared with $311.6 million for the prior year, an increase of 22.4%. For the full year, total organic revenue growth was 7.1%, including parts and services revenue growth of 9.0%. Acquisition revenue growth for 2014 was 25.5%.

Balance Sheet and Liquidity



The following information was filed by Lkq Corp (LKQ) on Thursday, February 26, 2015 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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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
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
Business Business - Additional Information (details)
Business Combinations
Business Combinations (tables)
Business Combinations - Additional Information (details)
Changes In Carrying Amount Of Goodwill (details)
Changes In Fair Value Of Contingent Consideration Obligations (details)
Changes In Warranty Reserve (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (details)
Components Of Other Intangibles (details)
Computation Of Earnings Per Share (details)
Condensed Consolidating Balance Sheets (details)
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (tables)
Condensed Consolidating Statements Of Cash Flows (details)
Condensed Consolidating Statements Of Comprehensive Income (details)
Condensed Consolidating Statements Of Income (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities - Additional Information (details)
Earnings Per Share
Earnings Per Share (tables)
Equity Incentive Plans
Equity Incentive Plans (tables)
Equity Incentive Plans - Additional Information (details)
Equity Incentive Plans Summary Of Expected To Vest Rsus, Stock Options, And Restricted Stock (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (details)
Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis (details)
Future Minimum Lease Commitments (details)
Income Taxes
Income Taxes - Additional Information (details)
Income Taxes Income Taxes (tables)
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) (details)
Income Taxes Schedule Of Deferred Tax Assets And Liabilities (details)
Income Taxes Schedule Of Deferred Tax Assets And Liabilities Classification (details)
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation (details)
Income Taxes Schedule Of Income Before Income Tax, Domestic And Foreign (details)
Income Taxes Schedule Of Unrecognized Tax Benefits Rollforward (details)
Long-term Obligations
Long-term Obligations (tables)
Long-term Obligations - Additional Information (details)
Long-term Obligations Schedule Of Maturities Of Long-term Obligations (details)
Pro Forma Effect Of Businesses Acquired (details)
Purchase Price Allocations For Acquisitions (details)
Reconciliation Of Segment Ebitda To Net Income (details)
Restructuring And Acquisition Related Expenses
Restructuring And Acquisition Related Expenses - Additional Information (details)
Schedule Ii-valuation And Qualifying Accounts And Reserves Schedule Ii-valuation And Qualifying Accounts And Reserves (details)
Schedule Ii-valuation And Qualifying Accounts And Reserves Schedule Ii-valuation And Qualifying Accounts And Reserves Schedule Ii-valuation And Qualifying Accounts And Reserves 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 Pre-tax Stock-based Compensation Expense (details)
Schedule Of Revenue By Geographic Area (details)
Schedule Of Revenue By Product Category (details)
Schedule Of Stock-based Compensation Expense Expected To Be Recognized (details)
Schedule Of Stock-based Compensation Expense Included In Statements Of Income (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)
Selected Quarterly Data
Selected Quarterly Data Selected Quarterly Data (tables)
Selected Quarterly Data Selected Quarterly Data - Additional Information (details)
Selected Quarterly Data Summary Of Selected Quarterly Data (details)
Significant Unobservable Inputs Used In Fair Value Measurements (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 Schedule Of Estimated Useful Lives (details)
Summary Of Significant Accounting Policies Schedule Of Inventory (details)
Summary Of Significant Accounting Policies Schedule Of Property And Equipment (details)
Summary Of Transactions In Stock-based Compensation Plans (details)
Terms Of Interest Rate Swap Agreements (details)
Ticker: LKQ
CIK: 1065696
Form Type: 10-K Annual Report
Accession Number: 0001065696-15-000007
Submitted to the SEC: Mon Mar 02 2015 2:57:07 PM EST
Accepted by the SEC: Mon Mar 02 2015
Period: Wednesday, December 31, 2014
Industry: Wholesale Motor Vehicles And Motor Vehicle Parts And Supplies

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