ADVFN - Advanced Financial Network.
HOME» NYSE » L » LEA Stock Price » LEA Stock News

Lear Share News

 Lear Corp. Stock Price
LEA Stock Price
 Lear Corp. Stock Chart
LEA Stock Chart
 Lear Corp. Stock News
LEA Stock News
 Lear Corp. Company Information
LEA Company Information
 Lear Corp. Stock Trades
LEA Stock Trades

Lear Swings To 1Q Profit On Higher Sales; Lifts Revenue View

DOW JONES NEWSWIRES Lear Corp. (LEA) swung to a first-quarter profit, with the auto-parts maker reporting a better-than-expected sales jump from last year's depressed levels, as automobile production improves along with the economy. The company also raised its 2010 sales forecast to about $11 billion from $10.2 billion to $10.7 billion. The maker of automotive seating systems, electrical distribution systems and electronic products cut its debt obligations and shed thousands of workers while in bankruptcy, giving the company improved liquidity. In March, Moody's Investors Service said it expected Lear's margins to continue to improve this year. The ratings agency said it continue to project stronger production in the U.S., although demand in Europe is expected to fall slightly. Lear posted a profit of $66.1 million, or $1.22 a share, compared with a year-earlier loss of $264.8 million, or $3.42 a share. The year-earlier results included $121.2 million in costs related to restructuring and other items. Net sales grew 36% to $2.94 billion. Analysts surveyed by Thomson Reuters expected a profit of 86 cents on revenue of $2.76 billion. Revenue rose 42% in North America, and grew 20% in Europe. Roughly two-thirds of the company's sales were generated outside of North America in the latest quarter. In the larger seating segment, sales grew 32%, while they jumped 50% in the electrical segment. Both segments benefited from higher global vehicle production and favorable exchange rates. Shares closed Wednesday at $76.96 and were inactive premarket. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Lear (LEA)
DateTimeHeadline
08/28/201414:03:29U.S. Hot Stocks: Hot Stocks to Watch
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30
11/15/201307:04:51Bridgewater Associates LP 3Q 13F: Largest Eliminations
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep 30
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases -2-
11/14/201307:19:29The Vanguard Group 3Q 13F: Largest Purchases -2-
11/14/201307:19:25The Vanguard Group 3Q 13F: Largest Sales
10/25/201309:38:11U.S. Hot Stocks Futures: Hot Stocks to Watch
07/26/201308:30:15Lear Earnings Fall; Raises Year View
02/12/201312:30:05Lear Shareholders Demand $2 Billion Buyback
12/21/201212:59:22Miller Buckfire Acquired by Stifel Financial
10/28/201209:41:13Canadian Auto-Parts Workers at Lear, Wescast Go on Strike
08/02/201209:37:38U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
04/25/201212:55:10Applications Given Early Antitrust Clearance
10/28/201109:13:21US Stock Futures: HOT STOCKS TO WATCH
08/10/201108:00:15Lear Names Simoncini CEO, Rossiter To Step Down
08/04/201107:45:31Lear 2Q Net Up 11% On Broad Growth; Lifts Full-Year View

Lear and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad