North American Growth Gives LKQ a Boost
Nearly everyone needs to replace parts in their automobiles from time to time, and the auto parts industry has turned into a huge business. LKQ (NASDAQ: LKQ) takes a different tack on the space, claiming the status of global leader in alternative replacement auto parts from both aftermarket and recycled channels. Record auto sales in recent years have lifted the prospects for the auto industry, and that has helped pay off for LKQ as well.
Coming into Thursday's second-quarter financial report, LKQ investors were prepared for a pause in the company's recent rebound, but the parts specialist managed to come through with better figures on the top and bottom lines. With an optimistic outlook for the future, LKQ believes it can keep its positive momentum going for the rest of the year and beyond. Let's look more closely at LKQ and what its latest results say about what's to come for the parts company.
Auto parts have enjoyed solid demand across the industry. Image source: Getty Images.
Source: Fool.com