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 2Q Profit On Higher Sales, Fewer Charges

DOW JONES NEWSWIRES Lear Corp. (LEA) swung to a second-quarter profit on fewer restructuring charges and better-than-expected sales growth as automobile production continues to improve. 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. Lear posted a profit of $159.8 million, or $2.96 a share, compared with a year-earlier loss of $173.6 million, or $2.24 a share. Costs and fees related to restructuring hurt results by $12.2 million in the latest period and $33.9 million a year earlier. Net sales climbed 33% to $3.04 billion. Analysts surveyed by Thomson Reuters expected a profit of $1.29 on sales of $2.92 billion. Gross margin soared to 9.6% from 1.6% on the sales gains. Revenue jumped 83% in North America, and grew 8.9% in Europe. About 66% of the company's sales were generated outside of North America in the latest quarter. In the larger seating segment, sales increased 30%, while they surged 46% in the electrical segment. Both segments benefited from higher global vehicle production. Shares of Lear, which affirmed its full-year revenue target, closed Monday at $78.79 and were inactive premarket. The stock is up 16% this year. -By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

Stock News for Lear (LEA)
DateTimeHeadline
02/23/201720:06:00Bosch, Cooper Standard, Honeywell, Hyundai Mobis, Lear Corporation...
02/17/201718:35:11Statement of Changes in Beneficial Ownership (4)
02/17/201718:29:22Statement of Changes in Beneficial Ownership (4)
02/17/201718:28:55Statement of Changes in Beneficial Ownership (4)
02/17/201718:27:36Statement of Changes in Beneficial Ownership (4)
02/17/201718:25:48Statement of Changes in Beneficial Ownership (4)
02/17/201718:24:53Statement of Changes in Beneficial Ownership (4)
02/17/201718:21:10Statement of Changes in Beneficial Ownership (4)
02/17/201718:20:44Statement of Changes in Beneficial Ownership (4)
02/17/201718:18:19Statement of Changes in Beneficial Ownership (4)
02/16/201715:00:00Lear Seating Sponsors Mahindra Racing in FIA Formula E Championship
02/14/201717:26:01Amended Statement of Ownership (sc 13g/a)
02/14/201717:23:20Amended Statement of Ownership (sc 13g/a)
02/13/201716:27:36Statement of Changes in Beneficial Ownership (4)
02/13/201716:26:15Statement of Changes in Beneficial Ownership (4)
02/13/201716:26:15Statement of Changes in Beneficial Ownership (4)
02/13/201716:25:49Statement of Changes in Beneficial Ownership (4)
02/13/201716:20:36Statement of Changes in Beneficial Ownership (4)
02/13/201716:20:09Statement of Changes in Beneficial Ownership (4)
02/13/201716:20:09Statement of Changes in Beneficial Ownership (4)

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US