Lear Corp Third Quarter Earnings Sneak Peek

Lear Corporation (NYSE:LEA) will unveil its latest earnings on Friday, October 28, 2011. Lear and its affiliates design and manufacture complete automotive seat systems and components as well as electrical distribution systems and electronic products.

Lear Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.14 per share, no change from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.18. Between one and three months ago, the average estimate moved down. It also has dropped from $1.15 during the last month. For the year, analysts are projecting net income of $5.42 per share, a rise of 22.9% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 27 cents, reporting profit of $1.54 per share against a mean estimate of net income of $1.27 per share.

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Wall St. Revenue Expectations: On average, analysts predict $3.24 billion in revenue this quarter, a rise of 14.9% from the year ago quarter. Analysts are forecasting total revenue of $13.96 billion for the year, a rise of 16.8% from last year’s revenue of $11.95 billion.

Analyst Ratings: Analysts are bullish on this stock with nine analysts rating it as a buy, one rating it as a sell and one rating it as a hold.

A Look Back: In the second quarter, profit rose 11.1% to $177.5 million ($1.65 a share) from $159.8 million ($1.48 a share) the year earlier, exceeding analyst expectations. Revenue rose 21% to $3.68 billion from $3.04 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 16.6%, with the biggest boost coming in the most recent quarter when revenue rose 21% from the year earlier quarter.

The company has now been profitable for the last eight quarters, and for the last four, profit has risen year over year by an average of 86%. The quarter with the biggest boost was the third quarter of the last fiscal year, which saw a more than threefold surge.

Competitors to Watch: Johnson Controls, Inc. (NYSE:JCI), Visteon Corporation (NYSE:VC), Gentex Corporation (NASDAQ:GNTX), General Electric (NYSE:GE), United Technologies Corp. (NYSE:UTX), Honeywell Intl. Inc. (NYSE:HON).

Stock Price Performance: During September 26, 2011 to October 24, 2011, the stock price had risen $8.39 (20.5%) from $40.99 to $49.38. The stock price saw one of its best stretches over the last year between December 30, 2010 and January 10, 2011 when shares rose for eight-straight days, rising 11.2% (+$5.38) over that span. It saw one of its worst periods between March 9, 2011 and March 17, 2011 when shares fell for seven-straight days, falling 9.9% (-$5.18) over that span. Shares are up 40 cents (+0.8%) year to date.

(Source: Xignite Financials)

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