LKQ Corp. (LKQ) in Wally Weitz's Multi Cap Equity Fund Q2 2024

Weather-Related Demand Challenges Impact Performance

Apr 15, 2025

Summary

Softer demand due to unseasonably warm weather affects sales.
Top detractor for the quarter and year-to-date periods.
Maintains full-year outlook and plans for debt reduction and capital return.

LKQ Corp. (LKQ, Financial) was highlighted in Wally Weitz's Multi Cap Equity Fund 2nd-Quarter Commentary 2024 Q2 as a top detractor from the fund's performance. The company's sales were impacted by unseasonably warm weather, which reduced demand for auto repair parts. Despite these challenges, LKQ maintains its full-year outlook and plans for debt reduction and capital return.

"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.

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