Lear Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company announced net sales of $4,643.5 million compared to $4,724.6 million for the same period a year ago. Consolidated income before income taxes and equity in net income of affiliates was $308.1 million compared to $309.4 million for the same period a year ago. Consolidated net income was $248.5 million compared to $252.9 million for the same period a year ago. Net income attributable to the company was $229.9 million compared to $235.3 million for the same period a year ago. Diluted net income per share attributable to the company was $3.24 compared to $3.07 for the same period a year ago. Net cash provided by operating activities was $525.4 million compared to $585.1 million for the same period a year ago. Capital expenditures were $228.0 million compared to $158.1 million for the same period a year ago. Free cash flow was $297.4 million compared to $427.0 million for the same period a year ago. Core operating earnings were $385.6 million compared to $358.9 million for the same period a year ago. Adjusted net income attributable to the company was $270.1 million compared to $245.2 million for the same period a year ago. Adjusted earnings per share were $3.80 compared to $3.20 for the same period a year ago.

For the full year, the company announced net sales of $18,557.6 million compared to $18,211.4 million for the same period a year ago. Consolidated income before income taxes and equity in net income of affiliates was $1,338.3 million compared to $1,031.5 million for the same period a year ago. Consolidated net income was $1,040.5 million compared to $795.8 million for the same period a year ago. Net income attributable to the company was $975.1 million compared to $745.5 million for the same period a year ago. Diluted net income per share attributable to the company was $13.33 compared to $9.59 for the same period a year ago. Net cash provided by operating activities was $1,619.3 million compared to $1,271.1 million for the same period a year ago. Capital expenditures were $528.3 million compared to $485.8 million for the same period a year ago. Free cash flow was $1,091.0 million compared to $831.0 million for the same period a year ago. Core operating earnings were $1,534.8 million compared to $1,310.2 million for the same period a year ago. Adjusted net income attributable to the company was $1,026.3 million compared to $843.9 million for the same period a year ago. Adjusted earnings per share were $14.03 compared to $10.85 for the same period a year ago.

The company provided earnings guidance for the full year of fiscal 2017. Sales in 2017 are expected to be approximately $19.5 billion, and core operating earnings are expected to be about $1.6 billion.  Net cash provided by operating activities is estimated to be $1.6 billion, and capital spending is expected to be $550 million, resulting in free cash flow in excess of $1.0 billion. The company's effective tax rate is expected to be approximately 26%.  Adjusted net income is expected to be approximately $1.1 billion.  Depreciation and amortization expense is estimated to be $385 million.