Lear Q1 Adj $3.18 Beats $3.02 Estimate, Sales $5.99B Miss $6.01B Estimate
Portfolio Pulse from Benzinga Newsdesk
Lear Corporation (NYSE:LEA) reported Q1 adjusted earnings of $3.18 per share, surpassing the consensus estimate of $3.02, marking a 14.39% year-over-year increase. However, Q1 sales of $5.99 billion fell slightly short of the $6.01 billion estimate, though they represent a 2.55% increase from the previous year.
April 30, 2024 | 10:33 am
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Lear Corporation reported higher-than-expected Q1 earnings but slightly missed sales estimates. Earnings per share were $3.18, beating estimates, with a 14.39% increase from last year. Sales were $5.99 billion, slightly below the $6.01 billion estimate.
The positive earnings beat by Lear Corporation is likely to be viewed favorably by investors, potentially leading to a short-term uptick in LEA's stock price. However, the slight miss on sales estimates could temper some of the positive sentiment. Overall, the significant earnings beat and year-over-year growth in both earnings and sales suggest a positive short-term impact on the stock.
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