Lear: 4Q Earnings Snapshot
SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Thursday reported fourth-quarter earnings of $201.6 million.
The Southfield, Michigan-based company said it had net income of $3.33 per share. Earnings, adjusted for one-time gains and costs, came to $3.66 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.37 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.24 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $5.01 billion.
For the year, the company reported profit of $158.5 million, or $2.62 per share. Revenue was reported as $17.05 billion.
Lear expects full-year revenue in the range of $19.8 billion to $20.8 billion.
Lear shares have climbed almost 1% since the beginning of the year. The stock has risen 28% in the last 12 months.