Lear Corporation Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Lear Corporation (LEA) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $80.7 million, or $1.49 per share. This compares with $109.6 million, or $1.90 per share, last year.

Excluding items, Lear Corporation reported adjusted earnings of $169.3 million or $3.12 per share for the period.

Analysts on average had expected the company to earn $2.70 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 7.2% to $5.560 billion from $5.994 billion last year.

Lear Corporation earnings at a glance (GAAP) :

-Earnings: $80.7 Mln. vs. $109.6 Mln. last year. -EPS: $1.49 vs. $1.90 last year. -Revenue: $5.560 Bln vs. $5.994 Bln last year.