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Lkq Corp (LKQ) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Lkq Corp

CIK: 1065696 Ticker: LKQ
Exhibit 99.1

lkqpressreleaseimage.jpg

LKQ CORPORATION ANNOUNCES RESULTS FOR FOURTH QUARTER AND FULL YEAR 2016

Annual revenue growth of 19.3% to $8.58 billion
Annual organic revenue growth for parts and services of 4.8%
Annual net income growth of 9.6% to $464 million
Annual diluted EPS of $1.50; adjusted diluted EPS of $1.80
Fourth quarter 2016 diluted EPS of $0.28; adjusted diluted EPS of $0.39
2017 annual guidance provided

Chicago, IL (February 23, 2017) - LKQ Corporation (Nasdaq:LKQ) today announced results for its fourth quarter and full year ended December 31, 2016. Net income for the fourth quarter of 2016 was $86.3 million, a decrease of 9.2% as compared to $95.1 million for the same period of 2015. Diluted earnings per share for the fourth quarter of 2016 was $0.28, a decrease of 9.7% as compared to $0.31 for the same period of 2015. On an adjusted basis, diluted earnings per share was $0.39, an increase of 14.7% as compared to $0.34 for the same period of 2015. Net income for full year 2016 was $464.0 million, an increase of 9.6% as compared to $423.2 million for the same period of 2015. Diluted earnings per share for full year 2016 was $1.50, an increase of 8.7% as compared to $1.38 for the same period of 2015. On an adjusted basis, diluted earnings per share was $1.80, an increase of 20.8% as compared to $1.49 for the same period of 2015.

On December 19, 2016, we announced the pending sale of our OEM glass manufacturing business to a subsidiary of Vitro S.A.B. de C.V. The results of our OEM glass manufacturing business are reported in discontinued operations for 2016. Although these amounts are not reflected in the continuing operations results, for the fourth quarter and full year of 2016, the OEM glass manufacturing business generated $173 million and $498 million of revenue, respectively. Our diluted earnings per share from continuing operations in the fourth quarter and full year of 2016 were $0.31 and $1.47, respectively, while the corresponding adjusted figures for 2016 were $0.35 and $1.69, respectively.

See the reconciliation of net income and its components and diluted earnings per share to adjusted net income and its components and adjusted diluted earnings per share included with this press release.

“In 2016, the Company achieved some major milestones, including surpassing $8 billion in annual revenue, achieving over $1 billion in annual Segment EBITDA for the first time, and expanding our global footprint, that today stands at 26 countries. I am particularly pleased that, despite the headwinds of a mild winter and its subsequent impact on organic growth, Wholesale-North America achieved its highest annual margin levels in the last five years. These results are a testament to the hard work and dedication of our 40,000 plus employees,” stated Robert Wagman, President and Chief Executive Officer of LKQ Corporation. “Parts and services organic revenue growth in the fourth quarter of 2016 was 3.8%, but the Company achieved organic growth of 5.2% on a same day basis, including 3.0% in North America, after adjusting for differences in selling days between the fourth quarter this year and last year. These growth rates are consistent with the 4.8% and 2.9% we achieved company-wide and in North America, respectively, for the full year.”



The following information was filed by Lkq Corp (LKQ) on Thursday, February 23, 2017 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

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 (notes)
Business Business - Additional Information (details)
Business Combinations (notes)
Business Combinations (tables)
Business Combinations - Additional Information (details)
Changes In Carrying Amount Of Goodwill (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)
Discontinued Operations (details)
Discontinued Operations (notes)
Discontinued Operations Discontinued Operations Income Statement (tables)
Discontinued Operations Net Assets Of Discontinued Operations (details)
Earnings Per Share
Earnings Per Share (tables)
Equity Incentive Plans
Equity Incentive Plans (tables)
Equity Incentive Plans - Additional Information (details)
Equity Incentive Plans Schedule Of Stock Option Activity (details)
Equity Incentive Plans Schedule Of Unvested Restricted Stock Units Activity (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 Cash Flow Hedges (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 - Additional Information (details)
Selected Quarterly Data Summary Of Selected Quarterly Data (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 Impact To Quarterly Financial Statements As Result Of Adoption Of Asu 2016-09 (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 New Accounting Pronouncements (details)
Summary Of Significant Accounting Policies Schedule Of Property And Equipment (details)
Ticker: LKQ
CIK: 1065696
Form Type: 10-K Annual Report
Accession Number: 0001065696-17-000005
Submitted to the SEC: Mon Feb 27 2017 5:31:25 PM EST
Accepted by the SEC: Mon Feb 27 2017
Period: Saturday, December 31, 2016
Industry: Wholesale Motor Vehicles And Motor Vehicle Parts And Supplies

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