Lear: 2Q Earnings Snapshot

SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Tuesday reported a second-quarter loss of $293.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Southfield, Michigan-based company said it had a loss of $4.89. Losses, adjusted for restructuring costs, were $4.14 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $4.98 per share.

The automotive seating and electrical distribution systems company posted revenue of $2.44 billion in the period.

Lear shares have decreased 18% since the beginning of the year. The stock has dropped 8% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEA at https://www.zacks.com/ap/LEA