LKQ tumbles as it pulls FY outlook, names new CEO

LKQ

23/10/2026 13:36

** LKQ Corp LKQ.O shares fall more than 16% to $18.85 premarket
** The auto parts supplier withdraws FY26 guidance, citing weak performance in Europe
** Sees Q3 adjusted profit per share in the range of $0.47 to $0.53, as per prelim results, vs est of $0.69, as per LSEG data
** Co blames Europe underperformance on ERP implementation disruptions in Germany and volume declines in UK and Benelux
** Co says it has appointed ex-Veritiv CEO Salvatore Abbate as CEO, effective December 15, 2026
** Abbate succeeds Justin Jude, CEO since 2024, who is stepping down from the role, effective immediately
** As of last close, stock has fallen ~26% YTD

 (Reporting by Miraanta Lowrance in Bengaluru)
 ((miraanta.lowrance@thomsonreuters.com))