Lear Corp. (LEA) Tops Q2 EPS by 34c

Lear Corp. (NYSE: LEA) reported Q2 EPS of $2.82, $0.34 better than the analyst estimate of $2.48. Revenue for the quarter came in at $4.6 billion versus the consensus estimate of $4.69 billion.

Share Repurchase Program

During the second quarter of 2015, Lear repurchased 1.1 million shares of its common stock for a total of $122 million. As of the end of the second quarter, Lear has a remaining share repurchase authorization of $765 million, which expires on December 31, 2017 and reflects approximately 10% of Lear's total market capitalization at current market prices.

Since initiating the share repurchase program in early 2011, Lear has repurchased 33.0 million shares of its common stock for a total of $2.1 billion at an average price of $65.15 per share. This represents a reduction of approximately 31% of our shares outstanding at the time we began the program.

Lear Corp. sees FY2015 revenue of $18.0 - $18.5 billion, versus the consensus of $18.40 billion.

For earnings history and earnings-related data on Lear Corp. (LEA) click here.

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