Joe, good the Thank on you, and morning call. everybody to
our year back discuss This full and remarks. then and XXXX, into with some in comments high-level financial a will will details the morning, Rick before provide closing I quarter outlook related to and I few the performance dive XXXX our come
has and a parts XX,XXX started vehicles. facilities used XX recycled our maintain XXXX. accessorize the with Fortune are founding we of and of with in grown wide in over few countries XXX a What celebrating aftermarket in business month, a repair, providing This to to operations salvage employees, and array company's the U.S. anniversary February XXth
their the respective are leaders markets success in well are future. continue to Our their and operations in positioned
the efforts. rests of dedication deliver this present LKQ of never has want the never to my all what result excited And in this am I the express has point its best. of to future, always these teams. and I is satisfied, our pushing laurels can the team for and on as the to Getting to been team be see past appreciation sincere
emphasis was the LKQ a can that to been our vital of you the that was am founded, is reduce our But operations, will ESG strategy. in of continue to recycling circular an our contributions When be assure ESG our Through not I of it economy doing on proud always and are mission. hot enabling our our date part we waste. today. has part sustainability I part to integral topic
is their rating recognized MSCI AAA, Companies the they globally. by Top-Rated LKQ Our XXXX included And rate on ESG success Sustainalytics' X% in top being in placing external highest LKQ On XX list. XX, December year, ESG ESG LKQ upgraded in all of to this XXXX, was parties. of of that January companies
of of myriad a very Europe. XXXX results, businesses our not an I labor a softness, From could set operating more supply the disruptions, The from inflation, year fourth cost chain of where energy resilience shine headwinds, perspective, and uncontrollable of quarter team. our and closed of be the through was in war spikes ranging a fourth a quarter economic shortages, strong proud
the margins American and combined our fourth and The growth margins segment, strong revenue history revenue North solid EBITDA wholesale generated fourth similar with revenue the segment, in of segments. in to our the the of offset quarter growth quarter. organic levels Service the continuation in impact of European and exceptional January trends highest when continued headwinds experienced in the Self Specialty our are organic The
in back on and a resulted target right we quarter provision guidance at on up anticipated, provided provide few tax provision fourth more the of which the October, drove range. low in the in the were the While EPS tax catch full higher collectively detail in a the Rick will that year annual quarterly operations than was with minutes. the guidance end
quarterly Now by on billion, fourth of of Revenue to for the decrease of billion $X the and X.X% in the XXXX, translation strong compared a results. to $X.X was XXXX quarter fourth of PGW. as divestiture quarter driven the FX
day by revenue impact services revenue by X.X% X.X%, acquisitions and on and X.X%. a of on services divestitures and basis. parts and a total a organic increased X.X% of for foreign rates net decrease and decreased revenue basis per revenue Parts X.X% reported decreased The exchange
Other relative revenue prices period fell same the XXXX. XX.X%, primarily commodity to due in to weaker
to Net same period last was year, compared $XXX in for $XXX for for Diluted million the quarter quarter income as $X.XX fourth was earnings period same in compared decrease $X.XX the per as the XX%. fourth share to million of XXXX. the a
also to was diluted During rate than during $X.XX an unfavorable tax third guidance. The relative the $X.XX the tax adjusted higher-than-anticipated quarter, which our rates. to on our quarter had effect call, related EPS we year-over-year anticipated higher impact generated an unfavorable
quarter last as On share for XX.X%. compared decrease decrease quarter the $XXX as XX.X%. earnings diluted XXXX, basis, for was to $X.XX the year, $XXX income an Adjusted $X.XX net of of compared million adjusted period the in of a same to of per a in was the fourth same period million fourth
for of an billion same XXXX year results of share was note full the gain on that for year Diluted income the billion the of per as Please year. Net as earnings $X.XX $X.XX period same the XXXX compared include $X.XX XXXX sale for last increase XX.X%. of PGW. period for of XXXX, compared full $X.XX to to the was
of was exclude for basis, $X.XX of rate. $X.X tax of income the the X.X%. the to earnings impact for the adjusted but of compared decrease share compared $X.X for Adjusted XXXX period billion. full the decrease earnings full PGW a On as of of was year higher net a XXXX, an gain Adjusted same billion same X.X%. diluted for period That's per to sale $X.XX year, year the include the last of the
highlights. of turn quarterly let's the Now to segment some
for note American XX, Slide and day the parts services increased organic quarter a of to revenue the fourth from will our XX% basis in basis compared segment reported you quarter on fourth As a XXXX. XX.X% per North on for and
We down continue fourth to liability perform in well in collision the to North when (ph) America that especially according were consider year-over-year quarter. auto CCC, claims you related [X.X%]
rates. XXXX, performance at APU rate, X.X%, our rate, financial back XXXX which or our organically American drove part Looking growth crisis, its historical an North average usage through at from above grew business the alternative to the of annual
the of more recession, global parts alternative challenging reality a during economic these As offerings become our clearly we face enter XXXX attractive and periods.
XXXX. also per in We the encouraged all-time by parts an which reached are high trend in repair,
that sweet and model stands note years our today to at spot four to XX Important expanded has years age. is of
for North organic well XXXX. All these positions in items growth continued combined America
volumes in The in level highest aftermarket stands sales and ongoing upward and XXXX, with at fill the our rates the in reaching close our percentage in rates their continued XX%. of trend to quarter pre-pandemic today levels improvement fill fourth the
as railheads to industry supply the where delays our of want increased, taking are and due chain main the back point stabilized continued supply we APU, the entire percentage generally improvement is today realized aftermarket has some chain the XXX-basis the as a it inventory The share to we recovered the of at OEs The are fill from in issue be. and rates throughout progress year. congestion. confronting we Importantly,
of in you December repair most non-OEM expanded of parts of many that year, use collision announced last know, As are to Farm States. they the on X State rolling out United
industry are which embracing offers, the excited State the end will the is that benefit ultimately We the value proposition consumer. Farm aftermarket
We analyze appropriately have compete do built this share our inventory for we to so. opportunity continue this fair opportunity of to to and are positioned actually well and our
also The organic per Our during is healthy but we our salvage saw on largely some an we salvage price, trend solid by our inventory as salvage witnessed relief we driven quarter. December, business vehicle volumes. in the growth, entered and upward cost had
which in rates These no inventory increased as auction can loss to prices. organic slightly rates a loss largely on seasonal. source had our growth. level at the a attractive fourth our And played ability in right of quarter, you higher impact the see, were role it Total at bit
fluctuations largely for neutral stated net LKQ. events we in are before, loss rates As have
per in per day a Moving on the XXXX. organic European organic growth level to parts services represents best fourth fourth like revenue and on I'd X.X% of which that Europe increased quarter on quarter margin day X.X% quarter entering European the highest was segment. to revenue basis, our since in and EBITDA also basis growth the XXXX. reported since market segment a Europe's the highlight
details margin LKQ full his year cover consistent segment double-digit another and with strategy. will more Rick is a basis, of Europe's EBITDA remarks. is prepared which margins, X performance year initiative Europe our On in
focusing cost headcount Throughout more and actionable the narrow team on to create of execute was quarter, team and team projects. list team market the rationalizing laser-focused leadership of our our the highest the These near and on including our a a in the can European segment. that nimble structure, resiliency represent European key further long-term return projects and term, cementing opportunities the agile
Netherlands remanufacturing both XXXX, Dutch-based Europe LKQ operates Group. X, in European recycled the salvage car engines and remanufactured Rhenoy its Rhenoy Founded a salvage is plants leading network Poland. February facility the acquisition with dismantling and and a On of that supplier OEM in Rhenoy of Netherlands announced in the it parts. expanded
lie in parts. of you the As OEM of recycle the company salvage dismantling know, our to roots vehicles
footprint. As knowledge, we small to our acquisition, part salvage towards European our intend our of that capitalize objective. with network incremental remanufacturing history one on step European coupled and grow our we with plan, that this to capabilities, across take tuck-in strategic And
EVs its an embracing them continues I the further business. years anniversary as ever-changing business them business founding Today, park car and our Otto well to next and We on can't positions independent to XXX the building A to century XXXth since to what the commend brings continues market-leading and STAHLGRUBER Willy mobility. their adapt opportunity towards change, the forms next a Gruber STAHLGRUBER started capture aftermarket. team history want for wait congratulate resilient to the -- the shifts of which brothers demonstrate that and to STAHLGRUBER. see other for ability of
to Now on let's our move Specialty segment.
a for quarter, Throughout recovery light up tough and against in XXXX the Specialty was U.S. slower-than-expected demand vehicle key in a XXXX, of RV decreased XX.X%. decrease of organic sales. comparisons Specialty midst the During parts revenue fourth reported certain in
Looking X% annual multi-year generated growth the outperforming XXXX, organic at a RV-related since for and SEMA of products. growth on revenue, basis, Specialty industry rate approximately has the Specialty segment compound a
of A Supply few expectations award O'Reilly's synergies, full that for the continued benefits Specialty Line operational row. XXXX highlights Specialty SeaWide the the And which dollars Specialty third would to and a exceeded year (ph) won execution. operational in include our realize [Top] in
Service Self our as material Self segment. increased decline expectations the our Service challenged Service our segment the again for quarter. the in revenue parts impacted for pricing which onto and for was revenue Self commodity of by Now quarter. X.X% other Organic in services fourth seen
development front, On the the fourth fairly quarter corporate quiet. was
While our operating is across quarter, various we did transactions our during any the not complete opportunities actively corporate assessing development exist team that material segments.
continue economies well we global to the fit multiple acquisitions and synergistic to objectives. on that compression that As positioned may to our are strategic execute soften, lead
announce am continue a again Under Outside batteries to towards non-ferrous evidence joint is memorandum this smelting ever-changing Zinc opportunities exist scale we States. to lithium-ion to longer-term seize strategically of a that potential understanding, recycling position car of pleased to of the EV Limited, work Korea into United will world-class QX the the Company venture company and adapt park. to a the entered that in the January, understanding company. in large corporate This will related past we the of we development memorandum efforts, with I general metal that
ESG. to Turning
During efforts quarter, our by the our ESG continued and out various initiatives. fourth on build people program social we to focusing
few Here are a worth noting.
months by ELIT owing of pain payment the increase received at employed for living LKQ hardship one-time in colleague to the energy for Ukraine the Russian cost to and support six general least Every a invasion.
our to given Our of the in those U.K. the implemented also and overall markets state operations economy. one-time support employees hardship European payments German
States to demand. on United voluntary The financial access a earned initiated pay our wellness our a of benefit with benefit the daily the mind. implemented portion their pay this allows that of employees company people in We in
employee who experiences, and share veteran veterans first Veterans LKQ growth our to program a other embraces allies outward employee each launched the our career development, proud engagement, recruitment, of we Network, group, retention. that community professional and support veteran and And encourage inclusion
X batteries X.X in XX and salvage vehicles waste million American approximately North leadership parts XXX,XXX would and collision industry recycled the million as our metal. by and of of XXX,XXX fuel, our the the in, nearly of being sold oil, up repair gallons among XXXX, ended mechanical tires, million shop these over In approximately operations recycler processing vehicles, XXX,XXX resulted million landfills. X.X tons other end of continued The into resulting repurposed recycling largest gallons result things, efforts otherwise scrap of have that in of
of Let's turn call. a key to interest on the inflationary for this most item environment, again listeners
discussed this across our a last XXXX year harsh I we a As inflation expected expectation be throughout of became and that time each segments. to year, reality all headwind
see Fortunately, we are row in recently in drop the months and a some beginning we with three across witnessed for Eurozone. to moderation the rate of U.S., the inflation the last inflation
to with was high-single countries October, digits. our Eurozone down many key January, stood at low-double almost face markets inflation certain Despite to rates inflation of where operating from in continue it running XX%. drop, approximately the this X.X% in high
be In mounting a yet the fears of read low. interest rates the remain in profile and we midst benefits markets strained to recession. U.S., unemployment for of about layoffs, at unpredictable new continue and claims the historic higher a high Daily labor
As in from But turnover. traction. out of areas material validation these late, of programs not reductions engagement slow of gaining and certain and are retention and inflation are to but is seeing the we our are is woods, beginning our far that business it reductions are employee wage
aren't and that efforts our component a programs an the Our mandate. simply culture. engagement of all They levels key stretch HR are of across are organization
employees Studies engaged for score XX% than who are are those shown employees above that companies global average productive size. more XX our Our and are employees. XX% significantly of that engagement with engaged have disengaged of more is the profitable companies with
the do for thing most So, positive it's from engagement right a employee business critical, importantly, perspective, our to asset, our is important but people.
turn am the the over Lastly, details I Rick, pleased I on our to February quarterly of share to on stock to announce outlook will March XXXX, business discussion approved a run XXXX results who and discuss our before cash XXXX. the dividend March per for segment payable Board of through that the at $X.XXX XX, record of of of Directors on of XX, common stockholders close XX,
