LKQ 2016 Results Mixed on Slowing U.S. Organic Growth; Maintaining $30 Fair Value
Narrow-moat-rated LKQ, which provides alternative and specialty parts to repair and accessorize vehicles, reported full-year 2016 EPS excluding special items of $1.80, three pennies shy of the consensus EPS of $1.83 but in line with our estimate of $1.80 and $0.31 higher than the $1.49 reported in 2015. Organic revenue growth was 3.7%, while acquisitions added 18.0%, partially offset by 2.4% from currency translation, for total revenue growth of 19.3% in 2016.However, North America fourth-quart...
LKQ is a holding company. Through its subsidiaries, the company provides alternative vehicle collision replacement products and alternative vehicle mechanical replacement products. The company is also a provider of alternative vehicle replacement and maintenance products in the United Kingdom, Germany, the Benelux region (Belgium, Netherlands, and Luxembourg), Italy, Czech Republic, Poland, Slovakia, Austria, and other European countries. In addition to its wholesale operations, the company operates self service retail facilities across the United States that sell recycled automotive products from end-of-life-vehicles. The company is also a distributor of specialty vehicle aftermarket equipment and accessories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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