LKQ Corp. cuts FY23 adjusted EPS view to $3.68-$3.82 from $3.90-$4.10

FY23 consensus $3.96. Cuts FY23 organic revenue growth for parts and services to 4.75%-5.75% from 6%-7.5%. Rick Galloway, Senior Vice President and CFO, commented, “We are reducing our full year guidance on revenue and earnings per share due to our underperformance in the third quarter and expected fourth quarter effects from additional strike activity in Germany, the anticipated dilution from the Uni-Select acquisition, soft commodity prices, and a continuation of difficult market conditions for our Specialty and Self Service segments. We are raising our free cash flow guidance due to our continued solid cash flow generation.”