Lear Corp. Increases Full Year Outlook - Quick Facts

(RTTNews) - Lear Corp. (LEA) increased its full year 2017 financial outlook for sales, earnings and free cash flow. Sales in 2017 are expected to be approximately $20.4 billion, up $400 million from the prior outlook, and core operating earnings are expected to be about $1.70 billion, up $50 million. Net cash provided by operating activities is estimated to be $1.735 billion, and free cash flow is expected to be approximately $1.150 billion, up $50 million.

For the third-quarter, core operating earnings was $408 million, up 12% from a year ago. Adjusted earnings per share were up 24% to $3.96 per share. Sales were $5.0 billion, up 10% from a year ago. Excluding the impact of foreign exchange, sales were up 8%. The company said this increase reflects the addition of new business in both of its product segments and the acquisition of Grupo Antolin's seating business, partially offset by lower production volumes on key Lear platforms, primarily in North America.