July 26 Automotive seat maker Lear Corp
on Friday reported second-quarter earnings that handily beat
Wall Street projections and increased its full-year outlook for
sales and operating earnings.
Lear, based in suburban Detroit, showed net earnings,
excluding one-time items, of $1.62 per share, which beat
analysts' expectations of $1.37 per share.
Quarterly revenue rose to $4.11 billion from $3.66 billion a
year ago and topped the analysts' estimate of $3.91 billion.
For 2013, Lear raised its sales outlook to $15.8 billion
from a range of $15 billion to $15.5 billion in its previous
forecast. It also increased its target for core operating
earnings to between $750 million and $800 million from a
previous outlook of $725 million to $775 million.