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Lear Sets Quarterly Operating Profit Record
Lear Corp. reports its net income for the first quarter of 2015 jumped 20% to $147 million as sales grew 4% to $4.5 billion.
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Lear Corp. reports its net income for the first quarter of 2015 jumped 20% to $147 million as sales grew 4% to $4.5 billion.
Operating earnings soared 21% to an any-quarter record $294 million. The seating supplier's operating margin rose to 6.5% from 5.6% in January-March 2014. Results were buoyed by the company's acquisition in January of leather supplier Eagle Ottawa LLC.
Lear expects its full-year sales to total between $18 billion and $18.5 billion. It predicts operating earnings of about $1.2 billion.
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