Automobile-parts recycler LKQ Corp. posted a 31 percent jump in quarterly profit, helped by a rise in refurbished parts sales, and raised its 2010 adjusted earnings outlook.
The company increased its full-year adjusted earnings forecast to $1.08 per share to $1.14 per share, from its prior view of $1.06 per share to $1.12 a share.
For the second quarter, the company reported net income of $37.9 million, or 26 cents a share, compared with $28.9 million, or 20 cents a share, a year ago. Revenue jumped 20 percent to $584.7 million, helped by a 9 percent rise in organic revenue from its aftermarket and refurbished parts.
