...October 25, 2024 With lower repairable claims and a decline in paint revenues, we now forecast negative organic growth and lower margins this year for LKQ Corp. followed by gradual improvement starting later in 2025. Through the first three quarters of 2024, LKQ's revenues were 2.3% lower organically than the previous year, though overall revenues were up due to the acquisition of Uni-Select USA last year. The decline has been caused by weaker North American volumes, softer demand in its specialty segment, and slower self-service salvage activity, despite being partially offset by modest growth in Europe. Volumes in LKQ's North American business have been lower this year due to a combination of fewer repairable claims that have reduced aftermarket parts sales and higher competition in its paint distribution business. Repairable claims in the U.S. have been down by the mid- to high-single-digit percent range this year due to a combination of higher insurance premiums and weaker used car...
