Who doesn’t want a breath of fresh air every once in a while? If you’ve been daydreaming of hitting the open road with your friends, family and pets for an epic adventure this spring, you’ll want to experience the convenience of renting an RV through Outdoorsy. With a super simple, user-friendly platform and affordable prices, renting an RV has never been easier with Outdoorsy. Traveling with pets? Personally, I know it can be a logistical nightmare. From trying to find pet-friendly hotels to reluctantly emptying your bank account for boarding, pet owners don’t have it easy! From vintage airstreams and toy haulers to all sorts of trailers and motorhomes, Outdoorsy has a wide selection of pet-friendly options and more to meet your travel needs. Learn more below and start planning your next road trip!
How does renting an RV through Outdoorsy work?
Renting an RV through Outdoorsy is a super easy process with just five simple steps! You’ll have support from the Outdoorsy team throughout the entire experience in case you have any questions.
1. Browse Outdoorsy and find your perfect RV: Start by looking through the collection of available RVs on the Outdoorsy website. You can filter your search by destination, type of RV, price range, travel dates and more. You can even search for specific amenities like pet-friendly features or cool, vintage vehicles!
COSTA MESA, Calif. – Overland Expo SoCal debuts March 15-16, 2025 at the OC Fair and Event Center in Costa Mesa, California. Overland Expo is the world’s premier event for overland adventure enthusiasts, drawing thousands of attendees looking to shop the latest brands in adventure travel gear, participate in the event’s education sessions, and enjoy entertainment like film showcases and live music. This is the expo’s first year in California, where a strong local community of off-road enthusiasts combined with access to abundant public lands and trails contribute to Southern California’s reputation as an overlanding hub.
Overland Expo SoCal will feature more than 300 top-tier gear exhibitors, 50 expert instructors, and over 100 hours of hands-on education, live demonstrations and workshops tailored to all experience levels.
Camping: On-site camping with fellow adventurers sharing stories from the road. Camping is currently sold out.
Exhibitors: More than 300 adventure travel and overlanding gear exhibitors provide shopping opportunities, as well as hold in-booth classes, giveaways and demonstrations. Attendees will gain access to exclusive deals, with some exhibitors offering their best prices of the year. The complete list of exhibitors can be found here.
Education: With more than 100 hours of education programming,Overland Expo sessions range from intel on finding the best dispersed campsites to cooking next-level camp meals. Classes are open to everyone and run all day long in the education pavilion, DIY area, and in the vendor area itself. Access the fullschedule here.
Community: Join thousands of overlanders from around the world during the day and stay for happy hour.While the entire event is family-friendly, the expo is also keeping the up-and-coming overland enthusiasts top of mind: its Kids Adventure Area features a scavenger hunt and a driving course.
Special event programming each day includes:
The Oasis Bar and Food Court sponsored by Nokian Tyres, will be showing films, hosting Q&As with filmmakers and storytellers, and offering a place for Women Who Wander to meet up, network and plan future adventures.
For people building a van, dreaming of building a van, or wondering how to enjoy life on the road, The Bivvy offers experts and enthusiasts sharing knowledge on everything from how to set up solar power (and how much power is enough) to how to get the internet to work on the road.
For attendees looking to become the Top Chef of their rig, the Backcountry and Culinary Pavilion sponsored by Milestar Tires, is the place to sharpen your cooking skills and cut your chops with the full menu of talented outdoor chefs.
The Overland Essentials Area sponsored by Torque Wheels is the perfect place to learn about storytelling and photography by some of today’s greatest in the business.
Evening activities kick off with Happy Hour sponsored by Toyo Tires at the Oasis Bar and Food Court sponsored byNokian Tyres, which runs from 5-7 p.m. Saturday evening. Enjoy food, alcoholic and non-alcoholic drink choices, live music, and a great place to sit, relax, and talk with newfound Overland Expo friends
Hundreds of adventure gear prizes will be given away during the Overland Expo Foundation raffle starting at 5:30pm in the Oasis Bar & Food Court Sponsored by Nokian Tyres. Tickets at 5 for $20. All proceeds go to the Overland Expo Foundation.
“This may be our first event in Southern California, but we feel right at home in such an active overlanding community,” said Jessica Kirchner, vice president of consumer events for Emerald, owners of Overland Expo. “Camping is already sold out, and we’re expecting thousands of attendees in addition to more than 300 exhibitors – all of which will help make this event a success.”
Snag tickets for Saturday, March 15 or Sunday, March 16 for $20 per person each day, or $40 for the entire weekend. Prices will increase to $25 for each day, and $45 for the entire weekend on March 1, 2025. If you are active military, a veteran or retiree, you may qualify for a 20% discount on any pass purchase.
Download the Overland Expo mobile app to stay up to date on the special events, demos, and everything else that will be happening over the weekend. The app will be live two weeks before the event. For more information on the event series, visit overlandexpo.com and follow Overland Expo and #overlandexpo on Instagram, YouTube and Facebook. For more information, visitoverlandexpo.com.
Founded in 2009, Overland Expo is the world’s premier event series for do-it-yourself adventure travel enthusiasts. Hundreds of exhibitors of adventure travel equipment, camping gear, bikes, vehicles, and services convene at every Overland Expo event. Each Expo hosts hundreds of session-hours of classes, including for off-road driving techniques, adventure motorcycling, inspirational programs, roundtable discussions, demonstrations, as well as the Overland Film Festival. Overland Expo is owned and produced by Emerald.
AUSTIN, Texas – RoverPass has officially released the 2025 RoverPass Outdoor Hospitality Report, providing an in-depth analysis of camping, RVing, and glamping trends throughout 2024. The report compiles exclusive booking data, seasonal travel patterns, payment preferences, and shifts in how campers are reserving their stays, giving campground owners and outdoor hospitality professionals valuable insights into industry trends.
With thousands of reservations analyzed across the United States, this report highlights how traveler behavior continues to evolve. It explores the increasing role of direct bookings, the demand for flexible payment options, and regional booking trends that vary by season. As campgrounds navigate changing consumer preferences, these findings provide a roadmap for adapting to new booking habits and optimizing revenue streams.
“The way campers book and travel is constantly evolving, and campground owners need real data to stay ahead,” said Michelle Smith, CEO of RoverPass. “This report breaks down key insights from 2024 and provides campgrounds with the knowledge they need to adjust, grow, and meet the expectations of today’s travelers.”
Key Findings from the 2025 Report
More Travelers Booking Directly: Direct bookings through official campground websites continue to gain traction as campers look for a more straightforward reservation process.
Seasonal Demand Shifts: Peak booking months vary by region, with the Midwest seeing a surge in summer reservations and the South maintaining steady demand year-round.
Flexible Payment Preferences: Credit cards remain the dominant payment method, but alternative options like ACH are gaining traction as campgrounds expand their offerings.
Campground Growth Trends: While small parks saw a decline in numbers, large parks experienced notable growth, reflecting shifts in property expansion and investment.
As the outdoor hospitality industry continues to evolve, having access to real-time data and insights is critical for campground owners looking to make strategic business decisions. From maximizing direct bookings to adapting to regional demand shifts, this report provides a clear snapshot of where the industry stands and where it is headed.
The full 2025 RoverPass Outdoor Hospitality Report is available for free download.
RoverPass is a leading provider of campground reservation and management software, offering a comprehensive platform that simplifies the reservation process for both campground owners and campers. RoverPass’s innovative solutions are designed to enhance the camping experience, improve operational efficiency, and drive revenue growth for campgrounds. For more information, visitwww.RoverPass.com
From Heartland RV: Looking for a spacious, high-quality travel trailer with fifth-wheel-style features? Meet the 2025 Prowler 3009RL, an entry-level travel trailer with premium upgrades, modern amenities, and a durable build — all at an affordable price! Measuring just under 35 feet long and 7,280 pounds dry, this travel trailer can sleep 5-6 people in 304 square feet of thoughtfully designed space.
What makes the 2025 Prowler 3009RL special?
Laminated Construction with Azdel Sidewalls – Lightweight, weather-resistant, and noise-reducing
Fifth-Wheel-Style Floor Plan – A rare luxury in an entry-level travel trailer
Heated & Enclosed Underbelly – Built for all-weather camping
Trio Airflow A/C System – Efficient cooling for maximum comfort
25-Year Floor Warranty – Unmatched durability and peace of mind
Interior highlights:
Spacious Living Area – Reclining theater seats, jackknife sofa, and a free-standing dinette with chairs
Hidden Pantry Behind Entertainment Center – Extra storage for essentials
Full Kitchen with Island – Solid surface countertops, deep basin sink, residential-style oven, microwave, and coffee nook
Luxury Bathroom – Large shower with skylight, on-demand hot water, and a hand sprayer
Queen Bedroom with Washer/Dryer Prep – Extra storage and residential comfort
Affordable & Feature-Packed:
With a base MSRP of $51,526, the Prowler 3009RL delivers premium RV living at an unbeatable value.
VANCOUVER, Wash. – Roadmaster Inc., a trusted leader in towing solutions, introduces new updated multi-functional LED lighting for the world’s onlyilluminated tow bar, the Nighthawk. Combining innovative engineering with premium materials to deliver both a lightweight and incredibly strong tow bar, boasting a towing capacity of up to 8,000 pounds, according to a release.
Key Features and Benefits
NEW! Multi-function Integrated LED Safety Lights: Designed with built-in LED lights along the arms, the Nighthawk ensures enhanced visibility for safer nighttime towing. LEDs light up to match turn, stop and parking light signals.
Designed and manufactured in the USA!
Includes power cord and safety cables.
Availability
The Nighthawk Tow Bar is available through Roadmaster’s nationwide dealer network, Part 676 and 677 (for Blue Ox baseplates). Check Roadmasterinc.com for more details.
About Roadmaster Inc.
Roadmaster Inc., headquartered in Vancouver, WA, has been a pioneer in towing solutions for over 30 years. With a commitment to innovation, customer satisfaction, and quality craftsmanship, Roadmaster continues to lead the way in the RV and towing industry.
GOSHEN, Ind. – Dutchmen RV, a leader in quality and innovation since 1988, introduced the all-new Denali fifth-wheel, calling it a “groundbreaking addition to the luxury RV market.” Designed with premium craftsmanship, residential comfort, and cutting-edge technology, the Denali delivers an unparalleled travel experience for RV enthusiasts, according to a release.
The Denali fifth-wheel sets a new industry benchmark, the release continued, with its all-metal baggage door package, a feature typically found only in high-end motorhomes, providing superior strength and insulation. The industry-leading Helix Spring Pin Box enhances towing stability and performance, giving it a competitive edge over models like the Alliance Paradigm.
Every detail in the Denali is meticulously designed to offer a high-end residential feel. Key features include:
Complete Amish Custom Cherry Cabinetry, featuring a fluted entertainment center with hidden doors, a matching range hood with a concealed microwave, soffit lighting, and a revolutionary industry-first front wardrobe that converts into a feature wall.
Custom Rolling Sectional Sofa, allowing for flexible seating and effortless stow-away convenience.
Fiberglass Shower Pan with Integrated Surround and Backsplash, providing a sleek, residential-style bathroom experience.
Residential LED Backlit Bathroom Mirrors, enhancing both style and function.
The Denali’s attention to detail extends beyond aesthetics, incorporating next-level comfort and convenience features such as:
Triple Dometic OmniChill A/C Units with 3 Fantastic Auto Vent Fans for superior climate control.
Ice Grey Reflective Square Windows with Integrated Shades, eliminating outdated box valances for a sleek, modern look.
Residential Water Manifold System, providing optimal water pressure and efficiency.
Zero Floor Ducting Heating System with 12V Tank Pads, ensuring all-season comfort.
Twin 16’ Power Awnings, extending outdoor living space with ease.
Designed for serious travelers, the Denali offers factory installed options to include a washer and dryer as well as a 5500W generator. The 200-watt solar panel with a 30-amp charge controller ensures off-grid capabilities, while the 6-point hydraulic auto-leveling system makes setup a breeze. The 17.5” black gloss wheels with G-rated tires provide enhanced durability and road performance.
The Dutchmen Denali fifth-wheel is more than an RV — it’s a statement. With its fusion of luxury, innovation, and practicality, this brand redefines what’s possible in the fifth-wheel market.
For more information or to schedule a viewing, visit www.dutchmen.com/models/denali-fifth-wheelor contact our sales team at (574) 537-5903.
About Dutchmen RV
Founded in 1988, Dutchmen RV has been an industry leader in delivering quality, innovation, and value. As a proud member of the THOR Industries family, Dutchmen continues to push the boundaries of RV design, ensuring that every adventure is met with reliability, comfort, and cutting-edge technology.
BILLINGS, Mont. – The Federal Home Loan Bank (FHLB) of Des Moines selected Care Camps Foundation as the recipient of a Member Impact Fund grant in the amount of $7,500. The grant was submitted on behalf of Care Camps Foundation by long-standing partner Independence Bank, who donated an additional $2,500.
The $10,000 combined donation will support Care Camps Foundation’s mission to give joy, hope, and the healing power of the outdoors to children with cancer and their families at medically supervised pediatric oncology camps.
“The impact that the Care Camps Foundation has on our youth and the community at large is extremely significant,” said Deborah Callahan, Senior VP of Lending at Independence Bank. “We are honored to submit the grant application on their behalf and are thrilled they were selected.”
Independence Bank also supports the charity through its popular Spirit Debit Card Program, donating each time cardholders complete a transaction. In addition, the Montana-based banking team sponsors and participates in annual Kampgrounds of America (KOA) fundraising events to benefit Care Camps Foundation, including the Fore the Kids Golf Tournament and the annual KOA Convention.
Gwynn Sullivan, Executive Director of Care Camps Foundation, calls Independence Bank a champion of camps for children with cancer. “The Independence Bank Team amplifies our mission through collaboration, advocacy, and contributions. They truly went the extra mile to secure this grant that will enable camps to strengthen their programs to serve more children with cancer and their families.”
In 2024, Care Camps Foundation awarded 117 pediatric oncology camps with grant funds to continue serving children living with cancer. Specific programs at each camp location provide increased support, community, and healing for these families. The opportunity to attend camp comes at no cost to the family and provides a continuum of care and a network of support for families navigating pediatric cancer.
About Federal Home Loan Bank
Federal Home Loan Bank of Des Moines is one of 11 regional banks that make up the Federal Home Loan Bank (FHLBank) System. Established by Congress in 1932 to support mortgage lending, the FHLBanks are a stable source of funding for more than 6,600 federally insured depository institutions of all sizes and types, including banks, credit unions, insurance companies, thrifts, and community development financial institutions.
About Independence Bank
Independence Bank proudly serves northcentral and northeastern Montana. Specializing in Ag, Commercial and KOA Campground lending, Independence Bank offers a full range of services tailored to the needs of families and businesses in our communities.
About Care Camps Foundation
Care Camps Foundation is a 501(c)(3) non-profit dedicated to funding medically supervised pediatric oncology camps across the United States and Canada. They aspire to bring the healing power of community and the outdoors to children living with cancer and their families by partnering with the outdoor industry, other businesses, foundations, and individuals to fund the camps. Care Camps Foundation supports camps that are members of the Children’s Oncology Camping Association (COCA), which oversees their quality assurance and professional development. For more information, visit www.carecamps.org.
In recognition of her two decades of leadership and dedication, the RV Industry Association’s Alice Wang has recently been promoted to Vice President of Human Resources.
Alice first joined the RV Industry Association in 2001 as a Human Resources Administrative Assistant working with the Vice President of Operations and the Director of Human Resources.
“Working directly with RV Industry Association staff across departments showed me firsthand how vital human resources is to support our team. This early experience reinforced the importance of having the right people in the right roles to effectively support the RV industry,” Alice says.
“Under Alice’s leadership, staff resources have expanded in many ways and her department has played a critical role in maintaining the RV Industry Association’s supportive, passionate workplace culture,” says Craig Kirby, President and CEO of the RV Industry Association. “Alice has continuously strived for improvement and sought ways to enhance human resource support. She has also demonstrated exceptional skill in identifying and recruiting top talent.”
When reflecting on some of her most significant experiences since joining the team, Alice highlights the Association’s 2020 transition to remote work during the pandemic: “The groundwork laid by leadership, information technology, office services, and human resources in establishing a remote work culture was invaluable, allowing the RV Industry Association to transition to working from home overnight,” she reflects. “Our talented office services, legal, and human resources staff played a key role in developing remote work policies, providing resources for staff working from home, and addressing any concerns from the team about the transition.”
In her new role, Alice continues to champion the team that serves RV Industry Association members. “Our two-person human resources team manages all aspects of the team experience, from recruiting and onboarding to compensation, benefits, and professional development. Our focus is to ensure the Association has the talent it needs to champion the initiatives of the RV industry.”
Additionally, Alice will continue to collaborate with member human resource professionals and help ensure that the RV Industry Association remains a thriving workplace. She will also drive innovative human resource strategies: “The future of human resources is all about putting people first while leveraging technology to drive meaningful change. By using AI and data-driven insights, we can make more informed decisions about talent and policies, allowing us to focus on creating exceptional experiences for our team.”
For Alice, her role at the RV Industry Association is meaningful because of her own personal ties to the great outdoors.“The RV industry and the RV Industry Association are personally meaningful to me because, like many families, mine loves camping and outdoor recreation. It’s rewarding to support the internal team who advocate for the RV and outdoor industry, our members, and families like mine. I’m passionate about the RV industry’s success, and I know that starts with supporting our team. Together, we’re working to preserve and enhance outdoor experiences for everyone.”
Going forward, Alice is excited to continue supporting the Association’s team and the wider RV industry. “I am sincerely grateful to the RV Industry Association for the opportunity to develop my expertise, expand my capabilities, and contribute to the success of both our industry members and the Association,” Alice concludes. “It is a privilege to a part of an organization and industry committed to excellence and unity. I look forward to continuing to support our Association’s mission and the RV industry.”
ANTIOCH, Tenn., – LKQ Corporation (Nasdaq: LKQ), the parent company of RV supplier NTP-Stag, today reported fourth quarter and full year 2024 financial results. “The LKQ team focused on our core strengths to manage difficult market conditions in 2024 and position the Company for greater success in the future. I am proud of the team’s strong finish. Specifically, our Europe segment achieved an EBITDA margin of 10.1% in the quarter, which is a record for the segment in the fourth quarter. This was the third consecutive quarter the Europe segment attained double-digit EBITDA margins, and the Europe segment achieved its highest level of EBITDA dollars for a full year in 2024,” stated Justin Jude, President and Chief Executive Officer. “We will continue to emphasize portfolio simplification, operational excellence and profitable growth to deliver long-term value to our shareholders.”
Hightlights included:
Fourth quarter revenue of $3.4 billion; annual revenue of $14.4 billion
Fourth quarter organic revenue for parts and services decreased 3.6%; annual decreased 2.2%
Fourth quarter diluted EPS2 of $0.60; fourth quarter adjusted diluted EPS1,2 of $0.80
Annual diluted EPS2 of $2.62; annual adjusted diluted EPS1,2 of $3.48
Annual operating cash flow of $1.1 billion; free cash flow1 of $0.8 billion
Repurchased $80 million of LKQ shares in the fourth quarter of 2024
Exceeded commitment of returning 50% FCF to shareholders by returning over 80% in 2024 through share repurchases ($360 million) and cash dividends ($318 million)
2025 outlook provided
Fourth Quarter and Full Year 2024 Financial Results
Revenue for the fourth quarter of 2024 was $3.4 billion, a decrease of 4.1% compared to $3.5 billion for the fourth quarter of 2023. Parts and services organic revenue decreased 3.6% (4.5% decrease on a per day basis), the net impact of acquisitions and divestitures decreased revenue by 0.7%, and foreign exchange rates decreased revenue by 0.3% year over year, for a total parts and services revenue decrease of 4.5%. Other revenue grew 6.2% primarily due to higher commodities volumes, partially offset by lower scrap steel prices relative to the same period in 2023.
Net income2 for the fourth quarter of 2024 was $156 million compared to $184 million for the same period of 2023. Diluted earnings per share2 was $0.60 compared to $0.69 for the same period of 2023, a decrease of 13.0%.
On an adjusted basis, net income1,2 in the fourth quarter of 2024 was $207 million compared to $226 million for the same period of 2023, a decrease of 8.4%. Adjusted diluted earnings per share1,2 was $0.80 compared to $0.84 for the same period of 2023, a decrease of 4.8%.
Revenue for the full year of 2024 was $14.4 billion, an increase of 3.5% compared to $13.9 billion for the full year of 2023. Parts and services organic revenue decreased 2.2% (2.8% decrease on a per day basis), the net impact of acquisitions and divestitures increased revenue by 6.3%, and foreign exchange rates increased revenue by 0.1% year over year, for a total parts and services revenue increase of 4.1%. Other revenue fell 7.8% primarily due to lower commodities prices and volumes relative to 2023.
Net income2 for the full year of 2024 was $690 million compared to $942 million for the same period of 2023. Diluted earnings per share2 was $2.62 compared to $3.51 for the same period of 2023, a decrease of 25.4%.
On an adjusted basis, net income1,2 for the full year of 2024 was $918 million compared to $1,027 million for the same period of 2023, a decrease of 10.6%. Adjusted diluted earnings per share1,2 was $3.48 compared to $3.83 for the same period of 2023, a decrease of 9.1%.
Cash Flow and Balance Sheet
Cash flow from operations and free cash flow1 were $1.1 billion and $0.8 billion, respectively, for the full year of 2024. As of December 31, 2024, the balance sheet reflected total debt of $4.2 billion and total leverage, as defined in our credit facility, was 2.3x EBITDA.
Stock Repurchase and Dividend Programs
During the fourth quarter of 2024, the Company returned over $150 million to its shareholders by investing approximately $80 million to repurchase 2.1 million shares of its common stock and distributing $78 million in cash dividends. For the year ended December 31, 2024, the Company returned $678 million to its shareholders by investing approximately $360 million to repurchase 8.6 million shares of its common stock and distributing $318 million in cash dividends. Since initiating the stock repurchase program in late October 2018, the Company has repurchased approximately 65 million shares for a total of $2.8 billion through December 31, 2024. An aggregate balance of $1.7 billion remains for potential additional repurchases through October 25, 2026. On February 18, 2025, the Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock, payable on March 27, 2025, to stockholders of record at the close of business on March 13, 2025.
Other Events
On December 11, 2024, the Company announced the appointment of independent director James S. Metcalf to its Board of Directors. On February 6, 2025, the Company announced the appointment of two additional independent directors, Sue Gove and Michael Powell, to its Board of Directors and the formation of a Finance Committee, which will make recommendations to the Board relating to the Company’s capital allocation strategy and business portfolio.
The Company has also announced that Blythe McGarvie and Dominick Zarcone have decided not to stand for re-election and will retire from the Board of Directors when their terms expire in connection with the Company’s 2025 Annual Meeting.
2025 Outlook
“Our 2025 guidance reflects expectations that are aligned with current market conditions as we continue to drive our operational excellence and lean management initiatives in the midst of the industry recovery. As I discussed at our investor day last September, we are committed to delivering above market revenue growth, margin improvement, strong free cash flow generation and returns on invested capital over the long term,” stated Rick Galloway, Senior Vice President and Chief Financial Officer.
For 2025, management is anticipating the following outlook as set forth below:
2025 Full Year Outlook
Organic revenue growth for parts and services
0% to 2%
Diluted EPS2
$2.91 to $3.21
Adjusted diluted EPS1,2
$3.40 to $3.70
Operating cash flow
$1.075 to $1.275 billion
Free cash flow1
$0.75 to $0.90 billion
Our outlook for the full year 2025 is based on current conditions, recent trends and our expectations, and assumes a global effective tax rate of 27.0% and the prices of scrap and precious metals hold near the fourth quarter of 2024 average. We have applied foreign currency exchange rates near recent average levels, including $1.04, $1.25 and $0.70 for the euro, pound sterling and Canadian dollar, respectively, for the year. Changes in these conditions may impact our ability to achieve the estimates. Adjusted figures exclude (to the extent applicable) the impact of restructuring and transaction related expenses; amortization expense related to acquired intangibles; excess tax benefits and deficiencies from stock-based payments; losses on debt extinguishment; impairment charges; and gains and losses related to acquisitions or divestitures (including changes in the fair value of contingent consideration liabilities).
Non-GAAP Financial Measures
This release contains (and management’s presentation on the related investor conference call will refer to) non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included with this release are reconciliations of each non-GAAP financial measure with the most directly comparable financial measure calculated in accordance with GAAP.
Conference Call Details
LKQ will host a conference call and webcast on February 20, 2025 at 8:00 a.m. Eastern Time (7:00 a.m. Central Time) with members of senior management to discuss the Company’s results. To access the conference call, please dial (833) 470-1428. International access to the call may be obtained by dialing (404) 975-4839. The conference call will require you to enter conference ID: 628335.
Webcast and Presentation Details
The audio webcast and accompanying slide presentation can be accessed at (www.lkqcorp.com) in the Investor Relations section.
A replay of the conference call will be available by telephone at (866) 813-9403 or (929) 458-6194 for international calls. The telephone replay will require you to enter conference ID: 856832. An online replay of the audio webcast will be available on the Company’s website. Both formats of replay will be available through February 27, 2025. Please allow approximately two hours after the live presentation before attempting to access the replay.
About LKQ Corporation
LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of OEM recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.
(1) Non-GAAP measure. Refer to the table accompanying this release that reconciles the actual or forecasted U.S. GAAP measure to the actual or forecasted adjusted measure, which is non-GAAP. (2) References in this release to Net income and Diluted earnings per share, and the corresponding adjusted figures, reflect amounts from continuing operations attributable to LKQ stockholders.
Forward Looking Statements
Statements and information in this press release and on the related conference call, including our outlook for 2025, as well as remarks by the Chief Executive Officer and other members of management, that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made pursuant to the “safe harbor” provisions of such Act.
Forward-looking statements include, but are not limited to, statements regarding our outlook, guidance, expectations, beliefs, hopes, intentions and strategies. These statements are subject to a number of risks, uncertainties, assumptions and other factors including those identified below. All forward-looking statements are based on information available to us at the time the statements are made. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
You should not place undue reliance on our forward-looking statements. Actual events or results may differ materially from those expressed or implied in the forward-looking statements. The risks, uncertainties, assumptions and other factors that could cause actual events or results to differ from the events or results predicted or implied by our forward-looking statements include the factors set forth below, and other factors discussed in our filings with the SEC, including those disclosed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2023, our subsequent Quarterly Reports on Form 10-Q, and in our Annual Report on Form 10-K to be filed for the year ended December 31, 2024. These reports are available at the Investor Relations section on our website (www.lkqcorp.com) and on the SEC’s website (www.sec.gov).
These factors include the following (not necessarily in order of importance):
our operating results and financial condition have been and could continue to be adversely affected by the economic, political and social conditions in North America, Europe, Taiwan and other countries, as well as the economic health of vehicle owners and numbers and types of vehicles sold;
we face competition from local, national, international, and internet-based vehicle products providers, and this competition could negatively affect our business;
we rely upon insurance companies and our customers to promote the usage of alternative parts;
intellectual property claims relating to aftermarket products could adversely affect our business;
if the number of vehicles involved in accidents or being repaired declines, or the mix of the types of vehicles in the overall vehicle population changes, our business could suffer;
fluctuations in the prices of commodities could adversely affect our financial results;
an adverse change in our relationships with our suppliers, disruption to our supply of inventory, or the misconduct, performance failures or negligence of our third party vendors or service providers could increase our expenses, impede our ability to serve our customers, or expose us to liability;
future public health emergencies could have a material adverse impact on our business, results of operation, financial condition and liquidity, the nature and extent of which is highly uncertain;
if we determine that our goodwill or other intangible assets have become impaired, we may incur significant charges to our pretax income;
we could be subject to product liability claims and involved in product recalls;
we may not be able to successfully acquire businesses or integrate acquisitions, and we may not be able to successfully divest certain businesses;
we have a substantial amount of indebtedness, which could have a material adverse effect on our financial condition and our ability to obtain financing in the future and to react to changes in our business;
our senior notes do not impose any limitations on our ability to incur additional debt or protect against certain other types of transactions, and we may incur certain additional indebtedness under our credit agreement;
each of our credit agreement and CAD Note imposes operating and financial restrictions on us and our subsidiaries, which may prevent us from capitalizing on business opportunities;
we may not be able to generate sufficient cash to service all of our indebtedness, and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful;
our future capital needs may require that we seek to refinance our debt or obtain additional debt or equity financing, events that could have a negative effect on our business;
our variable rate indebtedness subjects us to interest rate risk, which could cause our indebtedness service obligations to increase significantly;
repayment of our indebtedness is dependent on cash flow generated by our subsidiaries;
a downgrade in our credit rating would impact our cost of capital;
the amount and frequency of our share repurchases and dividend payments may fluctuate;
existing or new laws and regulations, or changes to enforcement or interpretation of existing laws or regulations, may prohibit, restrict or burden the sale of aftermarket, recycled, refurbished or remanufactured products;
we are subject to environmental regulations and incur costs relating to environmental matters;
if we fail to maintain proper and effective internal control over financial reporting in the future, our ability to produce accurate and timely financial statements could be negatively impacted, which could harm our operating results and investor perceptions of our company and as a result may have a material adverse effect on the value of our common stock;
we may be adversely affected by legal, regulatory or market responses to global climate change;
our amended and restated bylaws provide that the courts in the State of Delaware are the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees;
our effective tax rate could materially increase as a consequence of various factors, including U.S. and/or international tax legislation, applicable interpretations and administrative guidance, our mix of earnings by jurisdiction, and U.S. and foreign jurisdictional audits;
if significant tariffs or other restrictions are placed on products or materials we import or any related counter-measures are taken by countries to which we export products, our revenue and results of operations may be materially harmed;
governmental agencies may refuse to grant or renew our operating licenses and permits;
the costs of complying with the requirements of laws pertaining to data privacy and cybersecurity of personal information and the potential liability associated with the failure to comply with such laws could materially adversely affect our business and results of operations;
our employees are important to successfully manage our business and achieve our objectives;
we operate in foreign jurisdictions, which exposes us to foreign exchange and other risks;
our business may be adversely affected by union activities and labor and employment laws;
we rely on information technology and communication systems in critical areas of our operations and a disruption relating to such technology and systems, including cybersecurity threats, could harm our business;
business interruptions in our distribution centers or other facilities may affect our operations, the function of our computer systems, and/or the availability and distribution of merchandise, which may affect our business;
if we experience problems with our fleet of trucks and other vehicles, our business could be harmed;
we may lose the right to operate at key locations; and
activist investors could cause us to incur substantial costs, divert management’s attention, and have an adverse effect on our business.
NOVI, Mich. – The Shyft Group Inc. (NASDAQ: SHYF), the North American leader in specialty vehicle manufacturing, assembly and parent company of Spartan Chassis, today reported operating results for the fourth quarter and full-year ended December 31, 2024.
Operational highlights included:
Delivered double-digit Fleet Vehicles and Services (FVS) margins bolstered by operational improvements
Strong Specialty Vehicles (SV) margins
Successfully shipped Blue Arc Class 4 EV trucks to FedEx
Provides full-year 2025 sales outlook of $870 to $970 million, up 17% year-over-year at the midpoint
Entered into transformative merger agreement with Aebi Schmidt; remains on track to close by mid-2025
Fourth Quarter 2024 Financial Highlights
For the fourth quarter of 2024 compared to the fourth quarter of 2023:
Sales of $201.4 million, a decrease of $0.9 million, or 0.4%, from $202.3 million
Net loss of $3.4 million, or ($0.10) per share, compared to a loss of $4.4 million, or ($0.13) per share; 2024 results include $8.5 million of transaction expenses
Adjusted EBITDA of $15.9 million, or 7.9% of sales, an increase of $13.6 million, from $2.3 million, or 1.1% of sales; results include $5.8 million of EV pre-production related costs versus $9.3 million in the prior year
Adjusted net income of $5.0 million, or $0.15 per share, compared to a loss of $0.9 million, or ($0.03) per share
Consolidated backlog1 of $313.2 million as of December 31, 2024, down $96.0 million, or 23.5%, compared to $409.3 million as of December 31, 2023
Full-Year 2024 Financial Highlights For the full-year 2024 compared to the full-year 2023:
Sales of $786.2 million, a decrease of $86.0 million, or 9.9%, from $872.2 million
Net loss of $2.8 million, or ($0.08) per share, compared to net income of $6.5 million, or $0.19 per share
Adjusted EBITDA of $48.8 million, or 6.2% of sales, an increase of $8.8 million, from $40.0 million, or 4.6% of sales; results include $23.3 million of EV pre-production related costs versus $32.6 million in the prior year
Adjusted net income of $15.0 million, or $0.44 per share, compared to adjusted net income of $18.7 million, or $0.54 per share
“Our disciplined execution of Shyft’s operational framework drove meaningful adjusted EBITDA growth and margin improvement,” said John Dunn, President and CEO. “I am pleased with the team’s relentless focus on operational excellence as SV sustained strong profitability, supported by steady infrastructure demand, while FVS achieved double-digit margins despite a challenging parcel market.”
2025 Financial Outlook “Building on our solid results this quarter, we expect continued improvement in our profitability in 2025. Blue Arc EV transitioning into production, together with the anticipated recovery of the parcel market in the second half of the year, are expected to support these improvements,” said Scott Ocholik, Interim Chief Financial Officer.
Full-year 2025 outlook, notwithstanding further changes in the operating environment, is as follows:
Sales of $870 to $970 million
Adjusted EBITDA of $62 to $72 million
Adjusted earnings per share of $0.69 to $0.92
Free cash flow of $25 to $30 million
Dunn concluded, “As we move forward in 2025, our pending merger with Aebi Schmidt is accelerating our strategy, establishing the company as a global leader in specialty vehicles, with the scale and resources delivering growth, enhancing our customer-centric approach, and maximizing value for our shareholders. Our integration efforts are well underway, ensuring a seamless transition that leverages the strengths of both organizations. We are excited to unite our talented teams and build an even stronger platform for long-term success.”
Conference Call and Webcast Information The Shyft Group will host a conference call at 8:30 a.m. ET today to discuss these results and current business trends. The conference call and webcast will be available via:
How does renting an RV through Outdoorsy work?
Class 4 EV trucks to FedEx
