LKQ withdraws 2026 guidance after weaker Europe results and a change in leadership

LKQ has withdrawn its full-year 2026 guidance, its forecast for the year. The company cited weaker third-quarter results in Europe and a change in leadership. Third-quarter earnings were $0.50 per share, and revenue came in at $3.32 billion against $3.44 billion expected.

Salvatore A. Abbate will become president and chief executive of LKQ on December 15, 2026, succeeding Justin Jude, who leaves the company immediately. Until Abbate takes over, an interim Office of the Chief Executive Officer will run LKQ. Chairman John Mendel and Audit Committee Chair Sue Gove will lead it. LKQ has also removed Andy Hamilton as president and managing director of LKQ Europe, effective immediately. The company has retained Alvarez & Marsal to advise on its European operations, with a focus on customer service levels, stabilizing operations and cost discipline.

Mendel said LKQ's performance, "particularly in Europe, has fallen significantly short of the Board's expectations, prompting decisive action."

Withdrawing the full-year guidance removes LKQ's latest outlook at the same time as the third-quarter miss, so the year has no company forecast. Europe is now the focus. The adviser's brief centers on service levels and operations, which suggests the near-term work is operational. The first measure of progress will be whether that work reaches results before the new chief executive arrives.