LKQ Corp. backs 2024 adjusted EPS view $3.90-$4.20, consensus $4.04

Lowers 2024 revenue growth view to 2.5%-4.5% from 3.5%-5.5%, consensus $15.27B. CFO Rick Galloway commented, “We are reiterating our full year adjusted earnings per share and free cash flow guidance based on our confidence in the core strengths of our businesses and the action plans already in motion to recover the first quarter’s underperformance. We have lowered the range of our organic revenue growth guidance in recognition of the softer than expected first quarter demand and lowered our GAAP earnings per share guidance due to higher projected restructuring and transaction related expenses than prior guidance.”