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Benzinga

Business

Nabaparna Bhattacharya

LKQ Shares Crash To 52-Week Low On Slashed Outlook

LKQ LKQ Corporation Nasdaq North America

LKQ-Photo by Casimiro PT via Shutterstock

LKQ Corporation (NASDAQ:LKQ) shares plummeted over 21% on Thursday after the automotive parts distributor reported second-quarter adjusted earnings that missed analyst expectations and significantly cut its full-year guidance, citing ongoing macroeconomic headwinds and a lack of recovery in North American repairable claims.

The company reported second-quarter adjusted earnings per share of 87 cents, missing the analyst consensus estimate of 92 cents. Quarterly sales of $3.64 billion (down 1.9% year over year) was in line with the Street view.

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