Welcome to our dedicated page for Lear news (Ticker: LEA), a resource for investors and traders seeking the latest updates and insights on Lear stock.
Lear Corporation (NYSE: LEA) is a global automotive technology company specializing in Seating and E-Systems for the world’s major automakers. This news page aggregates company announcements, financial updates, and other disclosures that help investors and industry followers track developments affecting LEA stock and Lear’s role in the automotive supply chain.
Readers can find earnings-related news, including quarterly and full-year results, updates to financial outlook, and details on segment performance in Seating and E-Systems. Lear frequently issues press releases in connection with its earnings conference calls, where management discusses results, margins, cash flow, and non-GAAP measures such as core operating earnings, adjusted EBITDA, and free cash flow.
The feed also includes capital allocation and corporate actions, such as announcements of quarterly cash dividends on Lear common stock and activity under the company’s share repurchase program. These items provide insight into how Lear balances returning capital to shareholders with funding its operations and investments.
Another key category is strategic and operational updates. Lear reports on its participation in investor conferences, its multi-year partnership with Palantir Technologies, and the expansion of the IDEA by Lear transformation program, which uses digital and AI tools to improve efficiency across manufacturing and administrative functions. The company also highlights customer awards, quality recognitions, and new business wins in Seating and E-Systems.
For anyone following the automotive manufacturing and technology space, this page offers a centralized view of Lear’s official news flow. Investors, analysts, and industry observers can use it to monitor how Lear’s Seating and E-Systems businesses evolve over time and how management communicates performance, strategy, and recognition from customers and third parties.
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Lear Corporation (NYSE: LEA), a leader in automotive technology, will participate in a fireside chat at the Deutsche Bank Global Auto Industry Conference on June 15, 2022. The event will feature Ray Scott, President and CEO, and Jason Cardew, SVP and CFO. The webcast is set to begin at 9:30 AM EDT and last approximately 35 minutes. More details will be available on the company's website at ir.lear.com. Headquartered in Southfield, Michigan, Lear serves all major automakers and ranked 186 on the Fortune 500.
Lear Corporation (NYSE: LEA) announced its definitive agreement to acquire I.G. Bauerhin for €140 million. This acquisition aims to enhance Lear's thermal comfort solutions, expanding its product capabilities into active cooling while complementing existing offerings. The transaction, set to close within six to nine months pending regulatory approvals, marks Lear's second acquisition in this domain. IGB, a leading provider of seat climate control with €205 million revenue in 2021, will allow Lear to grow its Seating business. The acquisition is expected to accelerate the commercialization of advanced seating systems.
Lear Corporation (NYSE: LEA) announced a quarterly cash dividend of $0.77 per share, payable on June 29, 2022, to shareholders of record by June 10, 2022. The company's Board also approved a two-year extension of its share repurchase program until December 31, 2024, with approximately $1.3 billion remaining under this authorization. Since 2011, Lear has returned about $5.9 billion to shareholders, repurchasing around 50% of its shares outstanding at program inception.
On May 19, 2022, Lear Corporation (NYSE: LEA) announced the acquisition of Thagora Technology SRL, a company specializing in material utilization software and hardware, based in Romania. This strategic move aims to enhance Lear's manufacturing capabilities in seating applications through Industry 4.0 technologies. Thagora's solutions are expected to minimize scrap and energy usage during production, improving overall efficiency. The acquisition is anticipated to bolster Lear's global footprint and strengthen its relationships with automotive and non-automotive customers.
Lear Corporation (NYSE: LEA) reported Q1 2022 sales of $5.2 billion, a 3% decline from $5.4 billion in Q1 2021, despite outperforming global industry production by 4 percentage points. Net income dropped to $49 million from $204 million year-over-year. Adjusted earnings per share decreased to $1.80 from $3.73. Core operating earnings fell to $184 million, or 3.5% of sales, driven by reduced production and rising commodity costs. Lear's cash provided by operating activities was $221 million. The company adjusted its 2022 outlook, projecting net sales of $20.4 - $21.2 billion amid ongoing industry challenges.
Lear Corporation (NYSE: LEA) has announced a conference call on May 3, 2022, at 8:30 a.m. EDT, to discuss its first quarter 2022 financial results. Interested participants can join via toll-free calls at 877-883-0383 or internationally at 412-902-6506, using conference code 6997631. A live audio webcast will also be available on Lear's Investor Relations website, with a replay accessible two hours post-call. A presentation related to the earnings results will be published on the website prior to the call on May 3.
Lear Corporation (NYSE: LEA) has been chosen by General Motors to supply front and rear seats for the 2024 Chevrolet Silverado EV. The innovative 40/60 split second-row seat offers four configurations for enhanced functionality. Lear will produce the seats at its new Detroit facility, set to open mid-2022, generating hundreds of job opportunities. This partnership showcases Lear's commitment to innovation and sustainability in the automotive sector, as over one-third of its global locations supply products for hybrid and electric vehicles.
Intelsat has appointed David Wajsgras as its new CEO, effective April 4. Wajsgras, who has extensive experience in the aerospace industry, succeeds Stephen Spengler, retiring after 18 years. Previously, Wajsgras was president of a $7.5 billion business at Raytheon Technologies (RTX) and CFO at Lear Corporation (LEA). The board highlights Wajsgras's leadership skills and believes he is well-suited to guide Intelsat during this pivotal time. The company aims to maintain its leading market position and further develop its global communications capabilities.
Lear Corporation (NYSE: LEA) has completed the acquisition of Kongsberg Automotive's Interior Comfort Systems (ICS) for €175 million ($198 million). This move enhances Lear's seating capabilities and expands its offerings in thermal and comfort solutions like seat heating, ventilation, and massage features. The ICS unit contributes about 3,800 employees across multiple facilities and is anticipated to generate approximately $200 million in revenue in 2022. This strategic acquisition aligns with the growing demand for advanced vehicle comfort technologies in luxury and electric vehicles.