LKQ ousts CEO Justin Jude and warns of weak third-quarter earnings
LKQ parted ways with CEO Justin Jude, starts a review of European operations and expects third-quarter earnings well below analyst forecasts.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
LKQ, a large US supplier of automotive parts and related services, has parted ways with President and CEO Justin Jude and launched a review of its European operations after another weak quarter. Dow Jones Newswires reported that shares fell 18% to $18.45 in premarket trading. Update later reported a 22% drop to $17.52, a level not seen since July 2012.
LKQ expects third-quarter adjusted earnings of 47 to 53 cents a share, while analysts polled by FactSet had expected 69 cents. Organic parts-and-services revenue in Europe fell 9.8%, and the company pulled its full-year guidance. Alvarez & Marsal has been hired to advise on the European business. Andy Hamilton, who ran LKQ Europe, is also leaving. Salvatore Abbate, formerly CEO of Vertiv, will become president and CEO on Dec. 15. Until then, Chairman John Mendel and board member Sue Gove will lead an interim office of the CEO.
why it matters
Non-cash impairment charges will push the third-quarter result to a loss of 6 to 12 cents a share. Full results are due on Oct. 29. For investors, the problems are concentrated in Europe, and the leadership change could extend the time needed for a recovery.
market impact
LKQ shares and auto parts sector: weak outlook and leadership change weigh on the company's stock
tags
instruments
sources
- LKQ Ousts President, CEO Jude, Warns of 3Q Shortfall — Dow Jones Newswires, 23 October 2026 at 12:56 UTC
- LKQ Ousts President, CEO Justin Jude, Warns of 3Q Shortfall — Update, 23 October 2026 at 13:50 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗