Business News

Lear Fiscal Q2 Results Top Estimates


Lear Corp. reported early Wednesday fiscal Q2 adjusted earnings of $4.39 per diluted share compared with an income of $3.66 per share a year ago, beating the $4.11 average estimate from analysts polled by Capital IQ. Net sales for the quarter ended July 1 jumped to $5.12 billion from $4.72 billion a year ago, coming in above the $4.89-billion consensus.

The company said it now expects FY revenue of about $20 billion, above the prior forecast of $19.5 billion and ahead of the analyst estimate of $19.63 billion. The current outlook is based on a global industry production assumption of 93.1 million vehicles, up 2% from 2016.