Q3 Results Drive LKQ Corp. 10% Higher Thursday Morning
Shares of LKQ Corporation (NASDAQ: LKQ), a provider of specialty parts to repair and accessorize automobiles, jumped more than 10% early Thursday morning after the company released better-than-expected third-quarter results.
Starting from the top, revenues increased 1% to $3.15 billion, slightly better than analysts were expecting. Adjusted earnings per share increased 9% compared to the prior year and checked in at $0.61, topping analysts' estimates calling for $0.58 per share. Operating cash flow surged 85% higher to $965 million during the third quarter, and free cash flow soared 129% to $800 million through the first nine months of 2019.
"Our focus on profitable revenue, margin expansion and cash conversion continued to yield positive results this quarter," said Dominick Zarcone, president and chief executive officer of LKQ Corporation, in a press release.
Source Fool.com
