SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Lear Corp. (LEA) on Tuesday reported first-quarter profit of $80.7 million.
On a per-share basis, the Southfield, Michigan-based company said it had net income of $1.49. Earnings, adjusted for one-time gains and costs, were $3.12 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.56 billion in the period, which met Street forecasts.
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