Yahoo Finance Lear First Quarter 2024 Earnings: EPS Misses Expectations
Lear (NYSE:LEA) First Quarter 2024 Results
Key Financial Results
Revenue: US$5.99b (up 2.6% from 1Q 2023).
Net income: US$109.6m (down 24% from 1Q 2023).
Profit margin: 1.8% (down from 2.5% in 1Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$1.90 (down from US$2.42 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Lear EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 33%.
Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in the US.
Performance of the American Auto Components industry.
The company's shares are down 8.0% from a week ago.
Valuation
Our analysis of these results suggests Lear may be undervalued based on 6 important criteria we look at. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.
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