Lear: 3Q Earnings Snapshot
SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Friday reported third-quarter profit of $215.9 million.
The Southfield, Michigan-based company said it had net income of $3.58 per share. Earnings, adjusted for one-time gains and costs, came to $3.56 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.14 per share.
The automotive seating and electrical distribution systems company posted revenue of $4.83 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $4.73 billion.
Lear expects full-year revenue in the range of $19 billion to $19.5 billion.
Lear shares have declined 1% since the beginning of the year. The stock has declined 11% 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