Lear: 4Q Earnings Snapshot
SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Friday reported fourth-quarter profit of $212.2 million.
On a per-share basis, the Southfield, Michigan-based company said it had profit of $3.39. Earnings, adjusted for non-recurring costs, were $4.05 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.96 per share.
The automotive seating and electrical distribution systems company posted revenue of $4.94 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $4.98 billion.
For the year, the company reported profit of $1.15 billion, or $17.22 per share. Revenue was reported as $21.15 billion.
Lear expects full-year revenue in the range of $20.9 billion to $21.7 billion.
Lear shares have increased 21 percent since the beginning of the year. The stock has declined 23 percent 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