![LKQ CORP [LKQ] reports quarterly net loss of $158 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FLKQ.png&w=1200&q=75)
LKQ CORP [LKQ] has reported a net loss of $158 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $3.7 billion
Based in CHICAGO, Illinois, LKQ CORP operates in the WHOLESALE sector.
In the quarterly report for the period ending March 31, 2024, the company reported revenue of $3,703 million, showing an increase compared to the revenue of $3,349 million in the same period in 2023. This reflects a growth in the company's top-line performance.
Cost of goods sold for the current period amounted to $2,251 million, up from $1,977 million in the previous year. The increase in costs indicates higher production or procurement expenses during the current reporting period.
The gross margin for the period ending March 31, 2024, stood at $1,452 million, compared to $1,372 million in the same period in 2023, showcasing improved profitability in terms of sales revenue after deducting the cost of goods sold.
Operating income for the current period was reported at $289 million, a decrease from $365 million in the previous year. This decline in operating income indicates challenges or increased expenditures affecting the company's operational efficiency during the current reporting period.
Net income for the period ending March 31, 2024, amounted to $158 million, down from $270 million in the same period in 2023. This decrease in net income signifies a decline in overall profitability after accounting for all expenses and taxes.
Earnings per share for basic and diluted amounts were reported at $0.59 for both metrics in the current reporting period, compared to $1.01 in the previous year. The decrease in earnings per share indicates lower profitability attributable to each outstanding share of the company's stock for the current period.
Overall, the financial performance of the company in the current reporting period reflected mixed results, with revenue showing growth but net income and earnings per share declining compared to the same period in the previous year.
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