LKQ reports Q3 loss, withdraws FY guidance and names new CEO
LKQ Corp. released preliminary unaudited third‑quarter 2026 results showing a net loss of $16 million to $32 million and revenue of $3.32 billion, down from $3.50 billion a year earlier. The company withdrew its full‑year 2026 outlook and announced that CEO Justin Jude is leaving, with Salvatore A. Abbate slated to become president and chief executive on December 15, 2026. The news sent the stock down roughly 18‑19% in early trading.
Why it matters
The loss and guidance withdrawal remove the company’s earnings forecast for the year, increasing uncertainty for investors. The leadership change and hiring of Alvarez & Marsal to address European operational problems add further risk to the near‑term outlook.
Key facts
- 1Revenue fell to $3.32 billion in Q3 2026, compared with $3.50 billion in the same quarter a year earlier. investing.com
- 2LKQ expects a net loss of $16 million to $32 million for Q3 2026, versus net income of $178 million a year earlier. investing.com
- 3Adjusted diluted EPS is projected at $0.47 to $0.53, down from $0.84 a year ago. investing.com
- 4CEO Justin Jude departed effective immediately, and Salvatore A. Abbate will become president and CEO on December 15, 2026. investing.com
- 5LKQ withdrew its full‑year 2026 financial guidance. ibtimes.com.au
- 6The board engaged Alvarez & Marsal to advise on European operations. investing.com
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.