Sector: Consumer Discretionary|Industry: Auto Parts|Market Cap: $9.56B|Employees: 49K
LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries. In addition, the company distributes recreational vehicle appliances and air conditioners, towing hitches, truck bed covers, vehicle protection products, marine electronics, cargo management products, wheels, tires, and suspension products. It serves collision and mechanical repair shops, and new and used car dealerships, as well as retail customers. The company operates in the United States, Canada, the United Kingdom, Germany, Belgium, the Netherlands, Luxembourg, Italy, the Czech Republic, Austria, Poland, Slovakia, Taiwan, and other European countries. LKQ Corporation was incorporated in 1998 and is headquartered in Chicago, Illinois.
LKQ Corporation is a global distributor of vehicle products, including replacement parts, components, and systems used in the repair and maintenance of vehicles, and specialty aftermarket products and accessories. The company serves collision and mechanical repair shops, and operates self-service retail facilities. LKQ's primary revenue streams come from the sale of aftermarket, recycled, refurbished, and remanufactured vehicle products. The company has a significant presence in North America and Europe, with a growing presence in other international markets. LKQ competes with other aftermarket suppliers, OEMs, and recycling businesses.
Dominick Zarcone has served as CEO since May 2017. Michael T. Brooks joined LKQ in February 2020. Michael S. Clark has been with LKQ since May 2008. Rick Galloway became CFO in September 2022. Andy Hamilton became President and Managing Director of LKQ Europe in January 2024. Justin L. Jude became Executive Vice President and Chief Operating Officer in January 2024. John R. Meyne became Senior Vice President of LKQ Corporation and President of Wholesale – North America in January 2024.
LKQ offers a wide range of vehicle products and services, including:
LKQ operates through four main segments:
Revenue breakdown by segments is as follows: Wholesale - North America: $5.28 billion, Europe: $6.32 billion, Specialty: $1.67 billion, Self Service: $597 million (FY2023).
LKQ's strategy focuses on being a leading global value-added and sustainable distributor of vehicle parts and accessories. Key strategic priorities include:
The company aims to achieve profitable growth, enhance margins, and develop talent through operational excellence initiatives. They are also focused on leveraging technology to improve business processes and adapt to changes in the vehicle industry, including electric vehicles and autonomous driving.
LKQ operates primarily in the vehicle replacement parts and accessories industry. Key market trends include:
LKQ competes with a variety of players, including OEMs, aftermarket suppliers, recycling businesses, and internet-based suppliers. The company's market position is supported by its extensive distribution network, broad product offerings, and strong customer relationships. The company's market share information was not explicitly stated in the 10-K.
(Generated from latest 10-K filing)