Lear Corporation Q3 Profit Increases, beats estimates

(RTTNews) - Lear Corporation (LEA) revealed earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $132.9 million, or $2.25 per share. This compares with $92.3 million, or $1.54 per share, in last year's third quarter.

Excluding items, Lear Corporation reported adjusted earnings of $169.6 million or $2.87 per share for the period.

Analysts on average had expected the company to earn $2.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.3% to $5.781 billion from $5.241 billion last year.

Lear Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $132.9 Mln. vs. $92.3 Mln. last year. -EPS (Q3): $2.25 vs. $1.54 last year. -Analyst Estimate: $2.67 -Revenue (Q3): $5.781 Bln vs. $5.241 Bln last year.

-Guidance: Full year revenue guidance: $23.100- $23.300 Bln