SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Lear Corp. (LEA) on Thursday reported third-quarter net income of $135.8 million.
On a per-share basis, the Southfield, Michigan-based company said it had profit of $2.41. Earnings, adjusted for restructuring costs and non-recurring costs, came to $2.89 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.58 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $5.52 billion.
Lear expects full-year revenue in the range of $22.95 billion to $23.15 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEA at https://www.zacks.com/ap/LEA
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.