Lear increases quarterly earnings

Earnings rise despite weaker production

Automotive components supplier Lear lifted third-quarter adjusted earnings to 3.71 dollars per share from 2.79 dollars a year earlier. That exceeded the 3.32 dollars expected in the Zacks consensus. Net income increased to 137 million dollars from 108 million dollars. Lear attributed part of the per-share improvement to its share repurchases.^{[1], [2]}

The company rounded quarterly sales to 5.8 billion dollars, up 2 per cent, while Zacks gave the more precise total of 5.77 billion dollars. Global vehicle production declined 2 per cent. Production fell 5 per cent in North America and 7 per cent in China, but grew 1 per cent in Europe.^{[1], [2]}