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Thursday, 18 February 2021 14:08

LKQ Posts Positive Financials for Fourth Quarter and Full Year; Poised for Growth

Written by Tara Taffera, glassBYTEs.com

Index

...$0.46 for the same period of 2019, an increase of 28.3%, according to the financial results.

 

Net income for the full year of 2020 was $639 million, compared to $541 million for the same period in 2019, an increase of 18.1%.

 

“We expect our global teams to build off the solid 2020 performance and execute on our ongoing operational excellence initiatives in 2021,” said Varun Laroyia, executive vice president and CFO. “While the recovery in miles traveled slowed in the fourth quarter, we anticipate a gradual recovery in the second half of the year as the vaccination efforts take hold.

 

"Improving revenue trends combined with our improving cost structure should drive increased profitability relative to 2020 and contribute to another strong year of cash generation.”

 

We thank glassBYTEs.com for reprint permission. 

 

(C) 2021 by glassbytes.com. Reprinted with permission. All rights reserved. For more information contact www.glassbytes.com.

 

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