Lear Corp. Reports Strong Q4 Earnings, Beating Analyst Estimates
SOUTHFIELD, Mich. - Lear Corp. (LEA) announced fourth-quarter earnings of $88.1 million on Thursday. On a per-share basis, the company reported a profit of $1.61.
Adjusted for non-recurring and restructuring costs, earnings per share were $2.94, exceeding Wall Street expectations. Analysts surveyed by Zacks Investment Research had forecast earnings of $2.59 per share.
The automotive seating and electrical distribution systems provider also posted revenue of $5.71 billion for the quarter, surpassing market estimates. Zacks analysts had projected revenue of $5.51 billion.
For the full year, Lear reported a profit of $506.6 million, or $8.97 per share, on revenue of $23.31 billion.
For the upcoming year, the company anticipates revenue between $21.88 billion and $22.88 billion.