Lear Corp Sees 2018 Sales In Line

(RTTNews) - Lear Corp. (LEA) said that it expects sales for 2018 to be in the range of $21.4 billion to $21.6 billion, and core operating earnings of $1.750 billion to $1.775 billion. Analysts polled by Thomson Reuters expect the company to report revenues of $21.41 billion for 2018. Analysts' estimates typically exclude special items. Net cash provided by operating activities is estimated to be $1.8 billion, and free cash flow is expected to be more than $1.2 billion. Adjusted net income for 2018 is expected to be in the range of $1.230 billion to $1.250 billion.

The company noted that its 2018 financial outlook is based on a global industry production assumption of 95.1 million vehicles, up 2% from 2017. On a regional basis, vehicle production is forecasted to be 17.4 million units in North America, up 2%, 23.4 million units in Europe and Africa, up 2%, and 26.5 million units in China, up 1%.