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Lkq Corp (LKQ) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Lkq Corp

CIK: 1065696 Ticker: LKQ
Exhibit 99.1

lkqpressreleaseimage.jpg


LKQ CORPORATION ANNOUNCES RESULTS FOR FOURTH QUARTER AND FULL YEAR 2019
AND GUIDANCE FOR 2020


Annual revenue growth of 5.3% to $12.5 billion; fourth quarter growth of 0.2%
Annual organic revenue growth for parts and services of 0.3%; fourth quarter organic revenue growth for parts and services of 0.9%
Annual diluted EPS from continuing operations attributable to LKQ stockholders of $1.74 (up 14%); adjusted diluted EPS of $2.37 (up 8%)
Fourth quarter 2019 diluted EPS from continuing operations attributable to LKQ stockholders of $0.46 (up 254%); adjusted diluted EPS of $0.54 (up 13%);
Annual operating cash flow of $1.06 billion (up 50%) and free cash flow of $798 million (up 73%)

Chicago, IL (February 20, 2020) -- LKQ Corporation (Nasdaq:LKQ) today reported revenue for the fourth quarter of 2019 of $3.01 billion, an increase of 0.2% as compared to $3.00 billion in the fourth quarter of 2018. For the fourth quarter of 2019, parts and services organic revenue increased 0.9%, and acquisition revenue growth was 0.2%, while the impact of exchange rates was (1.0%), for total parts and services revenue growth of 0.1%.
Net income1 for the fourth quarter of 2019 was $140 million compared to $40 million for the same period in 2018, an increase of 247% year-over-year. Diluted earnings per share for the fourth quarter was $0.46 as compared to $0.13 for the same period of 2018, an increase of 254% year-over-year.
On an adjusted basis, net income was $167 million, an increase of 10% as compared to $151 million for the same period of 2018. Adjusted diluted earnings per share for the fourth quarter was $0.54 as compared to $0.48 for the same period of 2018, a 13% increase.
“Looking back on 2019, our team worked hard to deliver on our three key initiatives of focusing on profitable revenue growth, sustainable margin expansion, and enhancing levels of cash flow. In 2019, our effective working capital management allowed us to produce the highest annual operating and free cash flow figures in the Company’s history. I am also pleased with our North America segment, which improved year-over-year segment EBITDA margins by 100 basis points,” stated Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation. “In fiscal 2020, we will continue to focus on our productivity initiatives across each operating segment while managing the ongoing macro headwinds in Europe and the uncertainties relating to other geopolitical events.”
For the full year of 2019, revenue was $12.5 billion, an increase of 5.3% from $11.9 billion for the comparable period of 2018. Parts and services organic revenue growth for the full year of 2019 was 0.3%.
Net income for the full year of 2019 was $541 million, an increase of 12% as compared to $485 million for the same period of 2018. Diluted earnings per share for the full year of 2019 was $1.74, an increase of 14% as compared to $1.53 for the same period of 2018.

1 References to Net income and Diluted earnings per share, and the corresponding adjusted figures, in this release reflect amounts from continuing operations attributable to LKQ stockholders.


The following information was filed by Lkq Corp (LKQ) on Thursday, February 20, 2020 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

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
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)
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)
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)
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 Signficant Accounting Policies Equity Method Investments (Details)
Summary Of Signficant Accounting Policies Finite-Lived Intangible Assets Acquired As Part Of Business Combination (Details)
Summary Of Signficant Accounting Policies Finite-Lived Intangible Assets Acquired As Part Of Business Combination (Tables)
Summary Of Signficant Accounting Policies Finite-Lived Intangible Assets Acquired As Part Of Business Combination, Remaining Useful Life (Details)
Summary Of Signficant Accounting Policies Noncontrolling Interest (Details)
Summary Of Signficant Accounting Policies Property, Plant And Equipment [Table Text Block] (Tables)
Summary Of Signficant Accounting Policies Recent Accounting Pronouncements (Policies)
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)
Ticker: LKQ
CIK: 1065696
Form Type: 10-K Annual Report
Accession Number: 0001065696-20-000008
Submitted to the SEC: Thu Feb 27 2020 4:20:55 PM EST
Accepted by the SEC: Thu Feb 27 2020
Period: Tuesday, December 31, 2019
Industry: Wholesale Motor Vehicles And Motor Vehicle Parts And Supplies

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