SOUTHFIELD, Mich. (AP) – SOUTHFIELD, Mich. (AP) – Lear Corp. (LEA) on Thursday reported first-quarter net income of $143.6 million.
On a per-share basis, the Southfield, Michigan-based company said it had net income of $2.41. Earnings, adjusted for one-time gains and costs, came to $2.78 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.85 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $5.5 billion.
Lear expects full-year revenue in the range of $21.2 billion to $22.2 billion.
