Lear Corp. (NYSE: LEA) reported Q2 EPS of $4.39, $0.28 better than the analyst estimate of $4.11. Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $4.9 billion.

Full Year 2017 Financial Outlook

Lear is increasing its full year 2017 financial outlook for sales, earnings and free cash flow based on our strong first half performance, the addition of Grupo Antolin's seating business and our outlook for the remainder of the year.

The current outlook is based on a global industry production assumption of 93.1 million vehicles, up 2% from 2016. On a regional basis, vehicle production is forecasted to be 17.4 million units in North America, down 2%, 22.9 million units in Europe and Africa, up 3% and 26.0 million units in China, up 1%. Lear\'s financial outlook is based on an average exchange rate of $1.12/Euro for the remainder of the year.

Sales in 2017 are expected to be approximately $20 billion, and core operating earnings are expected to be about $1.65 billion. Capital spending is expected to be $560 million, up $10 million from our prior outlook primarily reflecting the addition of Grupo Antolin. Net cash provided by operating activities is estimated to be $1.66 billion, and free cash flow is forecast to be approximately $1.1 billion.

The Company's effective tax rate on an adjusted basis is expected to be approximately 26%. Adjusted net income is expected to be approximately $1.1 billion.

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