SOUTHFIELD, Mich. (AP) — SOUTHFIELD, Mich. (AP) — Lear Corp. (LEA) on Wednesday reported fourth-quarter profit of $82.7 million.
The Southfield, Michigan-based company said it had net income of $1.58 per share. Earnings, adjusted for one-time gains and costs, came to $3.41 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.67 per share.
The automotive seating and electrical distribution systems company posted revenue of $5.99 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $5.8 billion.
For the year, the company reported profit of $436.8 million, or $8.15 per share. Revenue was reported as $23.26 billion.
Lear expects full-year revenue in the range of $23.21 billion to $24.01 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
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