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.