Lear Reports Record 1Q Results, Tweaks Guidance Higher; Maintaining $112 FVE
Narrow-moat-rated Lear, a vendor of seats and electrical architectures to the global automotive industry, reported record earnings per share before special items of $5.10, a whopping $0.19 higher than the sell-side consensus and 20% higher than the same period last year. Record revenue of $5.7 billion represented a 15% increase from the first quarter of 2017 and would have been 8% higher excluding the impact of currency.Mainly due to the strength of the euro relative to the U.S. dollar, managem...
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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