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LEA Lear Q1 Earnings Beat Views, Sales in Line

BY Midnight Trader — 7:32 AM ET 04/24/2015

http://stockcharts.com/h-sc/ui?s=LEA

Lear (LEA) reported Q1 earnings that exceeded analysts' estimates while sales were in line with the Street's view.

The supplier of automotive seating and electrical distribution systems said adjusted earnings rose 24% to $2.28 per share, exceeding the $2.19 average estimate from analysts polled by Capital IQ. Sales rose to $4.52 billion from $4.36 billion a year ago compared to the $4.51 billion consensus estimate.

Reported net income rose to $147.3 million or $1.86 per diluted share from $120.0 million or $1.47 the year earlier.

For 2015, Lear expects sales between $18.0 billion and $18.5 billion compared to the $18.55 billion consensus estimate and core operating earnings between $1.18 billion and $1.23 billion. The company didn't provide a per-share guidance range.

LEA closed lower 0.5% and then added back 0.4% in after-hours trade Thursday, near the top end of the 52-week range between $75.05 and $116.68. It was inactive in recent pre-market trade.