LKQ Corp shares plunged 18.42% in pre-market trading Thursday after the auto parts supplier reported second-quarter results that fell short of Wall Street expectations and issued a sharply lower full-year outlook.

The company posted adjusted earnings of $0.67 per share, missing the consensus estimate of $0.71, while revenue of $3.4 billion came in below the projected $3.48 billion. The weakness was driven by softer demand in European markets, where an ERP implementation in Germany disrupted operations and volumes in the UK and Benelux declined.

Looking ahead, LKQ slashed its 2026 adjusted profit forecast to a range of $2.60 to $2.90 per share, down from its prior estimate of $2.90 to $3.20 and well below the analyst consensus of $2.97. The company also now expects organic revenue growth for parts and services to decline by 1% to 3%, compared with its previous guidance for a 0.5% decline to 1.5% growth, further dampening investor sentiment.