Shares of Lear (LEA) Lower, Sees Incremental Growth for FY12
Tweet
Share
E-mailGet Alerts LEA Hot Sheet
Join SI Premium – FREE
Lear (NYSE: LEA) shares are lower Wednesday after giving a look into its fiscal 2012 expectations at a North American International Auto Show presentation.
Lear said it expects fiscal 2012 revs of $13.85 billion to $14.35 billion, core operating earnings of $740 million to $790 million, and adjusted net income of $490 million to $520 million. The Street is also looking for 2012 sales of $14.84 billion, toward the upper-end of Lear's expectations.
Numbers compare with issued fiscal 2011 guidance calling for revs of $13.8 billion to $14.1 billion, and core operating earnings of $760 million to $790 million.
The only positive impact on Lear's 2012 outlook for core operating earnings is its sales backlog, while areas like European production, commodities, and launch costs will have a drag on the numbers.
Lear also gave its combined (seating and EPMS) sales backlog: $800 million in 2012, $700 million for 2013, and down to $300 million all the way out to 2014. Total backlog is about $1.8 billion.
Shares of Lear are about 1.8 percent lower Wednesday.
Lear said it expects fiscal 2012 revs of $13.85 billion to $14.35 billion, core operating earnings of $740 million to $790 million, and adjusted net income of $490 million to $520 million. The Street is also looking for 2012 sales of $14.84 billion, toward the upper-end of Lear's expectations.
Numbers compare with issued fiscal 2011 guidance calling for revs of $13.8 billion to $14.1 billion, and core operating earnings of $760 million to $790 million.
The only positive impact on Lear's 2012 outlook for core operating earnings is its sales backlog, while areas like European production, commodities, and launch costs will have a drag on the numbers.
Lear also gave its combined (seating and EPMS) sales backlog: $800 million in 2012, $700 million for 2013, and down to $300 million all the way out to 2014. Total backlog is about $1.8 billion.
Shares of Lear are about 1.8 percent lower Wednesday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi cuts Micron stock target, sees memory chip prices peaking in 2Q27
- Revelation Biosciences (REVB) Misses Q2 EPS by 4c
- Celsius jumps 12% as Rockstar founder builds 4.7% stake, demands CEO ouster
Create E-mail Alert Related Categories
Guidance, Insiders' BlogRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
