The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Fri Feb 23, 2018
LKQ Corporation, parent company of NTP-STAG, has released its financial results for the fourth quarter and full year ended December 31, 2017, according to a press release from LKQ.
Q4 revenue was $2.47 billion, an increase of 14.9 percent over the company's Q4 2016 revenue of $2.15 billion. Q4 2017 parts and services organic revenue growth was 4.8 percent, acquisition revenue growth was 6.1 percent, and the effect of exchange rates was 3.3 percent for an overall parts and services revenue growth of 14.3 percent. Net Q4 income was $126 million, an increase of 31.2 percent as compared to $96 million for Q4 2016.
For the full year of 2017, revenue was $9.74 billion, an increase of 13.4 percent over 2016's $8.58 billion. For all 2017, organic revenue growth was 13.1 percent. Diluted earnings per share from continuing operations for the full year was $1.74, an increase of 18.4 percent over 2016's per share earning of $1.47. On an adjusted basis, diluted earnings per share from continuing operations attributable to LKQ stockholders for 2017 was $1.88, an increase of 11.2 percent over 2016's diluted earnings of $1.69.
The Tax Cuts and Jobs Act, enacted in December 2017, had an effect on LKQ's corporate earnings. In the fourth quarter of 2017, the Company recorded a net benefit of $22 million to its income tax provision related to the net impact of revaluing deferred tax balances at the new rate and recording an estimated provision for the repatriation tax. These tax impacts were excluded from the measurement of adjusted diluted earnings per share.
“I am particularly pleased with the 5.0 percent organic revenue growth for parts and services achieved by our North America segment during the fourth quarter,” says Dominick Zarcone, president and CEO of LKQ. "Our 2017 results reflect the underlying strength of our business and our ability to grow, both organically and through acquisitions, despite headwinds we faced earlier in the year. Additionally, during 2017 our North America and Specialty segments reported their highest annual EBITDA margins in the past five years. I believe we entered 2018 with strong operating momentum, a clear strategy across all of our segments, and an industry leading team of over 43,000 employees dedicated to delivering on our mission.”
For more information, see LKQ's press release.