Lear Corporation Q1 adjusted earnings Beat Estimates

(RTTNews) - Lear Corporation (LEA) revealed earnings for its first quarter that increased from last year.

The company's profit came in at $353.7 million, or $5.16 per share. This compares with $305.8 million, or $4.35 per share, in last year's first quarter.

Excluding items, Lear Corporation reported adjusted earnings of $344.5 million or $5.10 per share for the period.

Analysts had expected the company to earn $4.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.6% to $5.73 billion from $5.00 billion last year.

Lear Corporation earnings at a glance:

-Earnings (Q1): $344.5 Mln. vs. $300.1 Mln. last year. -EPS (Q1): $5.10 vs. $4.27 last year. -Analysts Estimate: $4.91 -Revenue (Q1): $5.73 Bln vs. $5.00 Bln last year.

-Guidance: Full year revenue guidance: $21.8 - $22.0 Bln