SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Tuesday reported third-quarter net income of $92.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Southfield, Michigan-based company said it had net income of $1.54. Earnings, adjusted for one-time gains and costs, were $2.33 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.14 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.24 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $5.13 billion.
Lear expects full-year revenue in the range of $20.55 billion to $21.05 billion.
