LKQ Q2 adjusted EPS $0.98, down 10% YoY; organic revenue declines; cuts 2024 guidance

LKQ CORP

2024-Q2 EPS reported $1.29 revenue$7,414,000,000

Revenue $3.7B (+7.6% YoY) but organic parts & services revenue down 2.1% (2.9% per day).
GAAP diluted EPS $0.70, down 33.3% YoY; adjusted diluted EPS $0.98, down 10.1% YoY.
FY2024 guidance cut: adjusted EPS now $3.50-$3.70 (was $3.90-$4.20); free cash flow now $0.85B (was $1.0B).
Q2 operating cash flow $213M; returned over $200M to shareholders via $125M buyback and $80M dividends.
Paused large-scale M&A; divesting Slovenia, Poland, Bosnia operations; appointed Andrew Clarke to board.

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