LKQ tumbles after lowering annual profit forecast

LKQ

30/07/2026 13:20

** Shares of auto parts supplier LKQ LKQ.O slumps nearly 14% to $22.76 in premarket trading
** Co cuts full-year adjusted profit forecast on weaker demand for auto parts and repair services in its European markets
** Expects 2026 adj. profit of $2.60/share to $2.90/share, down from its prior estimate of $2.90/share to $3.20/share
** Forecasts organic revenue growth for parts and services to decline by 1% to 3%, compared with previous guidance for a 0.5% decline to 1.5% growth
** Q2 adj. earnings come in at 67 cents/share, missing analysts' estimates of 71 cents/share - data compiled by LSEG
** YTD, shares down 12.6%

(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))