Lear (NYSE: LEA ) reported earnings on Aug. 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Lear met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share contracted.
Margins dropped across the board.
Lear reported revenue of $3.67 billion. The 11 analysts polled by S&P Capital IQ wanted to see net sales of $3.64 billion on the same basis. GAAP reported sales were 0.3% lower than the prior-year quarter's $3.68 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.35. The 18 earnings estimates compiled by S&P Capital IQ anticipated $1.29 per share. GAAP EPS of $1.45 for Q2 were 12% lower than the prior-year quarter's $1.65 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 8.6%, 90 basis points worse than the prior-year quarter. Operating margin was 5.2%, 80 basis points worse than the prior-year quarter. Net margin was 4.0%, 80 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.43 billion. On the bottom line, the average EPS estimate is $1.19.
Next year's average estimate for revenue is $14.29 billion. The average EPS estimate is $5.22.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 82 members out of 84 rating the stock outperform, and two members rating it underperform. Among 22 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Lear a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lear is outperform, with an average price target of $58.53.
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