Lear Corporation (LEA) has announced its third-quarter earnings, revealing an increase from the previous year and surpassing Wall Street predictions. The company's net income reached $135.8 million, or per share, an improvement from $132.9 million, or $2.25 per share, in the same quarter last year.
On an adjusted basis, which excludes certain items, Lear posted earnings of $162.8 million, equating to $2.89 per share. This performance exceeded the forecasts of analysts, who had anticipated earnings of $2.63 per share, based on data from Thomson Reuters. It's important to note that analysts' estimations generally do not account for one-time items.
Revenue for the quarter experienced a slight decline, decreasing by 3.4% to $5.584 billion from $5.781 billion the previous year.
To summarize Lear Corporation's earnings under Generally Accepted Accounting Principles (GAAP):
- Earnings for Q3: $135.8 million compared to $132.9 million last year.
- Earnings per share (EPS) for Q3: compared to $2.25 last year.
- Revenue for Q3: $5.584 billion compared to $5.781 billion last year.
**Guidance:** The company anticipates full-year revenue to range between $22.95 billion and $23.15 billion.
