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Lear Falls After Mixed Q2 Earnings, Lowered Guidance

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Lear (NYSE: LEA) reported second-quarter earnings of $3.78 per share, which beat the analyst consensus estimate of $3.76. This is a 23.64% decrease over earnings of $4.95 per share from the same period last year.

The company reported quarterly sales of $5.008 billion, which missed the analyst consensus estimate of $5.05 billion. This is a 10.27% decrease over sales of $5.581 billion the same period last year.

Lear cut fiscal 2019 guidance net income from $1.08 billion-$1.17 billion to $885 million-$965 million, core operating earnings from $1.6 billion- $.7 billion to $1.35 billion-$1.45 billion, sales from $20.9 billion-$21.7 billion To $19.8 billion-$20.3 billion.

Lear shares were trading down 4% at $128 in Friday’s pre-market session. The stock has a 52-week high of $182.38 and a 52-week low of $114.45.

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