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Lear (LEA) Tops Q2 Profits Views, Raises Outlook

August 3, 2010 7:54 AM EDT Send to a Friend
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Lear (NYSE: LEA) reports Q2 EPS of $2.96, which may not compare to the analyst estimate of $1.29. Revenue for the quarter was $3 billion, which compares to the estimate of $2.92 billion.

Lear expects 2010 net sales of approximately $11.0 billion, consistent with our prior outlook, and 2010 core operating earnings of $450 million to $500 million, up $75 million from the prior outlook. Free cash flow in 2010 is expected to be in the range of $225 million to $275 million, up $75 million from the prior guidance.

Lear also increased three-year sales backlog to $1.9 billion, up $500 million from prior status.




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