LKQ Corp (NASDAQ: LKQ), a leading provider of alternative vehicle parts, saw its stock soar 5.04% in pre-market trading on Thursday, following the company's impressive fourth-quarter and full-year 2024 financial results.
The surge was driven by LKQ's better-than-expected earnings performance and an optimistic outlook for the upcoming fiscal year, reflecting the company's strong fundamentals and continued growth momentum.
For the fourth quarter of 2024, LKQ reported adjusted earnings per share of $0.80, surpassing the analyst consensus estimate of $0.74 by a substantial 8.11%. The company's revenue of $3.36 billion, however, narrowly missed the consensus estimate of $3.40 billion by 1.21%.
On an annual basis, LKQ's adjusted diluted earnings per share stood at $3.48, slightly below the previous year's figure of $3.83 but still within the company's guidance range. Total revenue for the full year 2024 increased by 3.5% to $14.4 billion, driven by robust organic growth in the company's core parts and services business.
Looking ahead, LKQ provided an encouraging outlook for fiscal year 2025, projecting organic revenue growth for parts and services in the range of 0% to 2%. The company expects its operating cash flow to range between $1.075 billion and $1.275 billion, with free cash flow projected to be between $0.75 billion and $0.9 billion.
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