India, Oct. 23 -- LKQ Corporation (LKQ), a U.S. provider of alternative and specialty vehicle parts, Friday reported preliminary third-quarter results showing a loss compared with a profit a year earlier, as revenue declined. The company also withdrew its previously issued full-year 2026 outlook and announced a leadership change amid weaker-than-expected performance, particularly in Europe.
In premarket trading on the Nasdaq, LKQ shares fell more than 17% after closing at $22.47 on Thursday.
"LKQ's performance, particularly in Europe, has fallen significantly short of the Board's expectations, and the Board is taking decisive action to address it," said John Mendel, Chairman of the Board.
For the third quarter, LKQ expects a net loss fro...