Lear Corp. (NYSE: LEA) reported Q3 EPS of $3.96, $0.22 better than the analyst estimate of $3.74. Revenue for the quarter came in at $5 billion versus the consensus estimate of $4.83 billion.

GUIDANCE:

Lear is increasing its full year 2017 financial outlook for sales, earnings and free cash flow based on our strong year-to-date performance and our outlook for the remainder of the year.

Sales in 2017 are expected to be approximately $20.4 billion, up $400 million from the prior outlook, and core operating earnings are expected to be about $1,700 million, up $50 million. Net cash provided by operating activities is estimated to be $1,735 million, and free cash flow is expected to be approximately $1,150 million, up $50 million.

The Company\'s effective tax rate on an adjusted basis is expected to be approximately 25%. Adjusted net income is expected to be approximately $1,150 million.

Pretax operational restructuring costs are estimated to be $65 million, capital expenditures are expected to be $585 million and depreciation and amortization expense is estimated to be $420 million.

The current outlook is based on a global industry production assumption of 93.4 million vehicles, up 2% from 2016. On a regional basis, vehicle production is forecasted to be 17.2 million units in North America, down 4%, 23.0 million units in Europe and Africa, up 3% and 26.1 million units in China, up 1%. Lear\'s financial outlook is based on an average exchange rate of $1.12/Euro for the year.

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