Lear Corporation Q1 adjusted earnings Beat Estimates

Lear Corporation (LEA) announced a profit for its first quarter that increased from the same period last year.

The company's bottom line totaled $203.7 million, or $3.36 per share. This compares with $76.4 million, or $1.26 per share, in last year's first quarter.

Excluding items, Lear Corporation reported adjusted earnings of $225.9 million or $3.73 per share for the period.

Analysts had expected the company to earn $2.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.1% to $5.40 billion from $4.46 billion last year.

Lear Corporation earnings at a glance:

-Earnings (Q1): $225.9 Mln. vs. $124.1 Mln. last year.
-EPS (Q1): $3.73 vs. $2.05 last year.
-Analysts Estimate: $2.95
-Revenue (Q1): $5.40 Bln vs. $4.46 Bln last year.

Full year revenue guidance: $20.35 - $21.15 bln

For comments and feedback contact: editorial@rttnews.com

Follow RTT