LKQ Corporation (NASDAQ: LKQ) reported Q3 EPS of $0.75, $0.22 better than the analyst estimate of $0.53. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.95 billion.

• Third quarter 2020 revenue of $3.0 billion (down 3.2% year-over-year)
• Parts and services organic revenue declined 4.5% year-over-year
• Net income¹ of $193 million (up 27.4%); adjusted net income of $228 million (up 20.9%)
• Targeted cost and productivity actions continue to contribute to operating leverage
• Diluted EPS¹ of $0.64 (up 30.6%); adjusted diluted EPS of $0.75 (up 23.0%)
• Year-to-date 2020 operating cash flow of $1.1 billion (up 17.6%); free cash flow of $1.0 billion (up 28.1%)
• Reduced borrowings by $256 million; year-to-date debt paydown of $1.0 billion
• Net leverage down to 2.0x EBITDA
• Liquidity up to $2.7 billion as of September 30, 2020
• Share repurchase program to recommence in the fourth quarter 2020

“We delivered exceptionally strong third quarter results owing to the resilience and dedication of the entire LKQ organization. I couldn’t be prouder of what our global team accomplished during these unprecedented times,” noted Dominick Zarcone, President and Chief Executive Officer. “Facing a continued challenging demand environment, our team maintained their sharp focus on the cost structure, and we achieved the highest quarterly earnings in the Company’s history and delivered year-over-year margin improvements in each of our operating segments, with North America also achieving its highest level of segment EBITDA margin in the Company’s history. Additionally, year-to-date we have generated over $1.0 billion in global free cash flow. These metrics validate the continued focus of our team on our key operating initiatives of profitable revenue growth, enhanced margins and free cash flow generation.”

For earnings history and earnings-related data on LKQ Corporation (LKQ) click here.