Mexican Media Brands
Lear Hikes Outlook After Record Quarter
Lear Corp. has boosted its earnings guidance for 2016 after reporting its net earnings in the third quarter jumped 18% to a record $214 million.
#economics
Share
Lear Corp. has boosted its earnings guidance for 2016 after reporting its net earnings in the third quarter jumped 18% to a record $214 million. Sales rose 5% to $4.5 billion.
The company says quarterly revenue generated by its automotive seating business climbed 5% to $3.5 billion. Sales of wiring and wireless connectivity products by its E-Systems grew 4% to $1 billion.
Lear now predicts its full-year earnings will be slightly greater than $1.5 billion, up from previous guidance of $1.45 billion-$1.5 billion. The company also expects free cash flow of about $1 billion, 11% greater than its earlier estimate.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.