Lear Corp. (LEA) Tops Q2 EPS by 16c; Boosts FY14 Outlook

Lear Corp. (NYSE: LEA) reported Q2 EPS of $2.12, $0.16 better than the analyst estimate of $1.96. Revenue for the quarter came in at $4.59 billion versus the consensus estimate of $4.43 billion.

Lear Corp. sees FY2014 revenue of $17.6 - $17.9 billion, versus prior guidance of $17.2 - $17.7 billion and the consensus of $17.54 billion. Core operating earnings are expected to be in the range of $975 to $1,025 million, up from the prior range of $935 to $985 million. Free cash flow is expected to be in the range of $400 to $450 million, up $25 million from the prior outlook.

Pretax income before restructuring costs and other special items is estimated to be in the range of $910 to $960 million. Tax expense, excluding the impact of restructuring costs and other special items, is expected to be in the range of $270 to $285 million. Adjusted net income attributable to Lear is expected to be in the range of $610 to $645 million.

For earnings history and earnings-related data on Lear Corp. (LEA) click here.

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