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Lear’s Fourth-Quarter Earnings Rise 7%
Lear Corp. says strong demand for its seating and electrical products improve profit margins and push operating earnings up 7% to $386 million in the final quarter last year.
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Lear Corp. says strong demand for its seating and electrical products improve profit margins and push operating earnings up 7% to $386 million in the final quarter last year.
But unfavorable currency effects cut revenue 2% to $4.6 billion for the Southfield, Mich.-based supplier. Net income dipped 2% to $230 million.
Lear’s full-year revenue climbed 2% to a record $18.6 billion, and net income for 2016 soared 31% to a record $975 million.
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