April 23 (Reuters) - Auto parts distributor LKQ

cut its full-year sales forecast on Tuesday and missed estimates

for first-quarter profit amid falling metal prices and softening

demand for spares in North America.

"Our first-quarter results were below our expectations as

our Wholesale - North America segment was confronted with a

reduction in repairable claims and the resulting pressure on

demand, which we believe is primarily attributable to record

warm weather across the United States," CEO Dominick Zarcone

said.

LKQ, which also sells scrap and other materials to

recyclers, had earlier flagged low commodity prices and said

they would continue to be a headwind for its self-service

segment.

In the last few months, the Chicago, Illinois-based company

has undertaken initiatives to improve profits amid inflated

commodity costs and softening demand for specialty vehicles

accessories, specifically for recreational vehicles.

It now expects to report organic revenue growth for parts

and services between 2.5% and 4.5% for 2024, down from its prior

guidance of 3.5% to 5.5%.

GAAP per share earnings for the full year are expected to be

between $3.32 and $3.62, below the previous guidance of $3.43

and $3.73.

However, LKQ reaffirmed its 2024 adjusted earnings per share

outlook of $3.90 to $4.20 on the back of its margin expansion

actions.

The firm also said that on April 16, it divested its

operations in Slovenia and simultaneously entered into an

agreement to divest its Bosnia operations. The terms of the

transactions were not disclosed.

LKQ reported adjusted earnings per share of $0.82 for the

first quarter, missing analysts' estimate of $0.95 per share,

according to LSEG IBES data.

It also posted sales of $3.70 billion for the three months

ended March 31, marginally below estimates of $3.76 billion.