SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Tuesday reported a third-quarter loss of $26.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Southfield, Michigan-based company said it had a loss of 44 cents. Earnings, adjusted for restructuring costs and pretax expenses, came to 53 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The automotive seating and electrical distribution systems company posted revenue of $4.27 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $4.18 billion.
Lear expects full-year revenue in the range of $18.8 billion to $19.2 billion.
