Lear (LEA) Q3 Earnings and Revenues Top Estimates

Core Insights - Lear (LEA) reported quarterly earnings of $2.79 per share, exceeding the Zacks Consensus Estimate of $2.69 per share, but down from $2.89 per share a year ago [1] - The earnings surprise for this quarter was +3.72%, following a previous surprise of +7.43% [2] - The company achieved revenues of $5.68 billion for the quarter, surpassing the Zacks Consensus Estimate by 0.09% and up from $5.58 billion year-over-year [3] Earnings Performance - Lear has consistently surpassed consensus EPS estimates over the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is $2.83, with expected revenues of $5.74 billion, and for the current fiscal year, the estimate is $12.10 on $23.01 billion in revenues [8] Stock Performance and Outlook - Lear shares have increased approximately 9.3% since the beginning of the year, compared to a 16% gain in the S&P 500 [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Industry Context - The Automotive - Original Equipment industry, to which Lear belongs, is currently ranked in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9] - Commercial Vehicle Group (CVGI), another company in the same industry, is expected to report a quarterly loss, indicating potential challenges within the sector [10][11]