Lear Reports Mixed 3Q Results, Reduces Guidance; Maintaining $112 FVE
Narrow-moat-rated Lear, vendor of seats and electrical architectures to the global automotive industry, reported earnings per share before special items, or EPS, of $4.09, $0.08 ahead of the sell-side consensus EPS of $4.01 but $0.13 better than the $3.96 EPS reported in the same period last year. Revenue of $4.9 billion was 1.8% lower compared with the third quarter of 2017 but would have been flat excluding the negative impact of currency. Seating revenue declined 4.8% while electronic and ele...Lear is a supplier to the automotive industry. The company supplies seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The company has two segments: Seating, which consists of the design, development, engineering, just-in-time assembly and delivery of seat systems, and the design, development, engineering and manufacture of seat components; and E-Systems, which consists of the design, development, engineering and manufacture of electrical distribution systems, and electronic control modules, electrification products, connectivity products and software solutions for the cloud, vehicles and mobile devices.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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