SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Lear Corp. (LEA) on Thursday reported fourth-quarter earnings of $88.1 million.
On a per-share basis, the Southfield, Michigan-based company said it had profit of $1.61. Earnings, adjusted for non-recurring costs and restructuring costs, were $2.94 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.71 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $5.51 billion.
For the year, the company reported profit of $506.6 million, or $8.97 per share. Revenue was reported as $23.31 billion.
Lear expects full-year revenue in the range of $21.88 billion to $22.88 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