Lear Corporation Q3 Profit Increases, Beats Estimates

Lear

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(RTTNews) - Lear Corporation (LEA) reported earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $135.8 million, or $ per share. This compares with $132.9 million, or $2.25 per share, in last year's third quarter.

Excluding items, Lear Corporation reported adjusted earnings of $162.8 million or $2.89 per share for the period.

Analysts on average had expected the company to earn $2.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.4% to $5.584 billion from $5.781 billion last year.

Lear Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $135.8 Mln. vs. $132.9 Mln. last year. -EPS (Q3): $ vs. $2.25 last year. -Revenue (Q3): $5.584 Bln vs. $5.781 Bln last year.

-Guidance: Full year revenue guidance: $22.95 bn-$23.15 bn