Lear Corp. (LEA) Tops Q1 EPS by 63c; Raises Earnings Outlook
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Lear Reports Record First Quarter 2016 Results and Increases Full Year Financial Outlook
April 27, 2016 7:00 AM EDTSOUTHFIELD, Mich., April 27, 2016 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical systems, today reported record financial results for the first quarter of 2016. Highlights include:
Sales of $4.7 billion, up 8% from prior year excluding the impact of foreign exchange and lower commodity prices Record core operating earnings of $387 million, up 32% from prior year Record core operating margin of 8.3%, up from 6.5% a year ago Adjusted earnings per share of $3.40, up 49% from prior year Generated $201 million of free cash flow Increased... More