Charging Ahead: LKQ Enjoys Bullish Outlook With Analyst's Outperform Rating & Optimistic Forecast

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  • Barrington Research analyst Gary Prestopino reiterated an Outperform rating on the shares of LKQ Corp LKQ with a price target range of $65 - $70.
  • The analyst estimates revenue of $3.26 billion and adjusted EPS of $0.96 for Q1.
  • Guidance for 2023 includes a growth rate of 6-8% for organic parts and services revenue with an adjusted EPS range of $3.90-$4.20.
  • LKQ is anticipating a $0.10 benefit to the full-year 2023 adjusted EPS due to share repurchases that occurred in 2022.
  • The analyst notes that increased interest expense is anticipated to have a $0.13 impact in 2023.
  • Guidance includes FX rates for the euro of $1.08, and the pound sterling at $1.22.
  • LKQ is forecasting moderation in segment EBITDA margin expansion in North America in 2023, added the analyst.
  • The pending acquisition of Uni-Select that is expected to close in the second half of 2023 represents a multiple of approximately 9.7x Uni-Select’s 2023E segment EBITDA on U.S. GAAP inclusive of run-rate cost synergies, said the analyst.
  • Price Action: LKQ shares are trading higher by 0.62% at $56.95 on the last check Monday.
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