Lear: Q4 Earnings Snapshot

Associated Press Finance
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SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Lear Corp. (LEA) on Tuesday reported fourth-quarter profit of $127.3 million.

On a per-share basis, the Southfield, Michigan-based company said it had net income of $2.18. Earnings, adjusted for one-time gains and costs, were $3.03 per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.07 per share.

The automotive seating and electrical distribution systems company posted revenue of $5.84 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $5.65 billion.

For the year, the company reported profit of $572.5 million, or $9.68 per share. Revenue was reported as $23.47 billion.

Lear expects full-year revenue in the range of $24 billion to $24.6 billion.

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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

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