LKQ Corp. (LKQ) reported a rise in first-quarter net income to $84.6 million, or $0.28 per share, from $81.0 million, or $0.27 per share, for the same period of 2012. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.29 for the quarter. Analysts' estimates typically exclude one-time items.
The company said the recent quarter's earnings per share included a loss equal to $0.01 per share resulting from restructuring and acquisition related expenses and the change in fair value of contingent consideration liabilities. Last year's earnings per share included a gain equal to $0.02 per share that resulted from a favorable legal settlement.
The firm recorded first-quarter revenue of $1.20 billion, up 15.9% compared with $1.03 billion in the previous year, while 8 analysts projected revenue of $1.16 billion.
For 2013, the company still sees earnings per share in the range of $1.00 - $1.09, and net income of $305 million - $330 million. Full-year organic revenue growth guidance is now anticipated to be 6.5% to 8.5%, versus its prior view of 5.5% to 7.5%. Analysts anticipate annual earnings of $1.06 per share.
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