LKQ Corp. (LKQ, Financial) experienced poor second-quarter returns in Wally Weitz's Multi Cap Equity Fund 2nd-Quarter Commentary 2024 Q2. The company's sales were impacted by unseasonably warm weather, which resulted in fewer auto accidents and softer demand for repair parts. Despite these challenges, LKQ maintained its full-year outlook and remains focused on strategic initiatives.
"LKQ shares fell after reporting softer-than-expected sales for the first quarter, as unseasonably warm weather resulted in fewer auto accidents and softer demand for LKQ repair parts." — Wally Weitz, Multi Cap Equity Fund, Q2 2024 Fund Letter
Read full letter at gurufocus Wally Weitz's Multi Cap Equity Fund 2nd-Quarter Commentary 2024 Q2 page.