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Lkq Corp (LKQ) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Lkq Corp

CIK: 1065696 Ticker: LKQ
Exhibit 99.1

lkqpressreleaseimage.jpg

LKQ CORPORATION ANNOUNCES RESULTS FOR FOURTH QUARTER AND FULL YEAR 2018

Annual revenue growth of 22% to $11.9 billion; fourth quarter growth of 22%
Annual organic revenue growth for parts and services of 4.4%; fourth quarter growth of 2.5%
Operating cash flow of $711 million, up 37% compared to 2017
Non-cash impairment charges of $97 million for the full year; $75 million recorded in the fourth quarter
Annual net income from continuing operations attributable to LKQ stockholders decreased 10.4% to $485 million; adjusted net income increased 18.5% to $691 million
Annual diluted EPS from continuing operations attributable to LKQ stockholders of $1.53; adjusted diluted EPS of $2.19
Fourth quarter 2018 diluted EPS from continuing operations attributable to LKQ stockholders of $0.13; adjusted diluted EPS of $0.48

Chicago, IL (February 28, 2019) - LKQ Corporation (Nasdaq:LKQ) today announced results for its fourth quarter and full year ended December 31, 2018. For the fourth quarter of 2018, revenue was $3.0 billion, an increase of 22% from $2.5 billion for the comparable period of 2017. Parts and services organic revenue growth for the fourth quarter of 2018 was 2.5%.

Net income from continuing operations attributable to LKQ stockholders for the fourth quarter of 2018 was $40 million, a decrease of 68% year-over-year. Diluted earnings per share from continuing operations attributable to LKQ stockholders for the fourth quarter of 2018 was $0.13 as compared to $0.41 for the same period of 2017, a decrease of 68%. The fourth quarter 2018 results included non-cash impairment charges (net of tax) of $48 million related to the Company’s equity investment in Mekonomen AB and $26 million related to goodwill recorded on our 2017 acquisition of an aviation parts recycler. These impairment charges reduced diluted earnings per share for the fourth quarter of 2018 by $0.23. On an adjusted basis, net income from continuing operations attributable to LKQ stockholders was $151 million, an increase of 19.7% as compared to the $126 million for the same period of 2017. On an adjusted basis, diluted earnings per share from continuing operations attributable to LKQ stockholders for the fourth quarter of 2018 was $0.48, an increase of 17.1% as compared to $0.41 for the same period of 2017.
“Looking back on 2018, I am proud of the team’s efforts to complete the Stahlgruber acquisition, produce solid organic growth across all our segments, and effectively manage working capital to allow us to produce the highest annual operating cash flow figure in the Company’s history. While I acknowledge that the 2018 results didn’t live up to our initial expectations due to operational challenges in parts of the business and economic headwinds, particularly in Europe, I believe that we are taking the necessary steps to position the Company for continued success,” stated Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation. “As we look forward to fiscal 2019, we will continue to execute on our productivity initiatives across each operating segment and remain focused on profitable revenue growth, margin enhancement, excellent cash conversion, and optimizing our capital allocation strategy.”



The following information was filed by Lkq Corp (LKQ) on Thursday, February 28, 2019 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

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 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
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)
Components Of Other Intangibles (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 (Details)
Derivative Instruments And Hedging Activities (Notes)
Derivative Instruments And Hedging Activities (Tables)
Discontinued Operations (Details)
Discontinued Operations (Notes)
Discontinued Operations Discontinued Operations Income Statement (Tables)
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)
Financial Statement Information Equity Method Investments (Details)
Financial Statement Information Finite-Lived Intangible Assets Acquired As Part Of Business Combination (Details)
Financial Statement Information Finite-Lived Intangible Assets Acquired As Part Of Business Combination (Tables)
Financial Statement Information Finite-Lived Intangible Assets Acquired As Part Of Business Combination, Remaining Useful Life (Details)
Financial Statement Information Impact To Financial Statements As Result Of Adoption Of Asu 2014-09 (Details)
Financial Statement Information Property, Plant And Equipment [Table Text Block] (Tables)
Financial Statement Information Schedule Of Inventory (Details)
Financial Statement Information Schedule Of New Accounting Pronouncements (Details)
Financial Statement Information Schedule Of Property And Equipment (Details)
Future Minimum Lease Commitments (Details)
Income Taxes (Notes)
Income Taxes - Additional Information (Details)
Income Taxes Income Taxes (Tables)
Long-Term Obligations
Long-Term Obligations (Tables)
Long-Term Obligations - Additional Information (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 (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)
Selected Quarterly Data (Unaudited) (Details)
Selected Quarterly Data (Unaudited) (Notes)
Selected Quarterly Data (Unaudited) (Tables)
Stock-Based Compensation Schedule Of Stock Option Activity (Details)
Stock-Based Compensation Schedule Of Unvested Restricted Stock Units Activity (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)
Ticker: LKQ
CIK: 1065696
Form Type: 10-K Annual Report
Accession Number: 0001065696-19-000010
Submitted to the SEC: Fri Mar 01 2019 10:25:02 AM EST
Accepted by the SEC: Fri Mar 01 2019
Period: Monday, December 31, 2018
Industry: Wholesale Motor Vehicles And Motor Vehicle Parts And Supplies

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