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 reports recurring developments as a global automotive technology supplier focused on Seating and E-Systems. Its news commonly covers quarterly and annual operating results, financial outlook updates, segment performance, vehicle production trends, new business on automaker platforms, commercial recoveries, and the winddown of non-core products.
The company also announces capital-return actions, including quarterly cash dividends and share repurchases, and participates in automotive and industrial investor conferences. Lear's business updates are tied to seating components such as frames, mechanisms, covers, heating and cooling, foam and headrests, as well as electrical distribution, connection and electronic systems for vehicles.
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.
Lear Corporation (NYSE: LEA), an automotive technology leader, announced a quarterly cash dividend of $0.77 per share on February 18, 2022. This dividend will be payable on March 30, 2022 to shareholders on record as of March 11, 2022. Additionally, the company revealed the date for its 2022 Annual Stockholders Meeting on May 19, 2022, to be held via a virtual web conference. The record date for voting eligibility is March 25, 2022.
Lear Corporation (NYSE: LEA), a leader in automotive technology, will participate in a fireside chat at the Wolfe Research Virtual Global Auto, Auto Tech & Mobility Conference on February 24, 2022. The chat will feature Ray Scott, President and CEO, and Jason Cardew, Senior Vice President and CFO. The webcast starts at 10:10 AM EST and will last approximately 35 minutes. Interested parties can access the webcast through Lear's website. Lear is headquartered in Southfield, Michigan and serves major automakers worldwide.
Lear Corporation (NYSE: LEA) reported a 7% decline in Q4 2021 sales to $4.9 billion, impacted by semiconductor shortages, leading to net income of $22 million. For the full year, sales rose 13% to $19.3 billion with net income up to $374 million. Adjusted EPS decreased significantly in Q4 to $1.22 from $3.66, reflecting lower production and higher commodity costs. The company issued $700 million in senior notes to support an acquisition and has a strong backlog of $3.3 billion for 2022-2024. Lear forecasts 2022 net sales of $20.8-$22.3 billion, showing optimism despite ongoing market uncertainties.
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Lear Corporation (NYSE: LEA) will hold a conference call on February 8, 2022, at 8:30 a.m. EST to discuss its fourth quarter and full year 2021 financial results. Participants can join via toll-free number 877-883-0383 or internationally at 412-902-6506 using the conference code 8642960. A live audio webcast will also be available on Lear's Investor Relations website, with a replay accessible two hours after the call. A slide presentation will precede the conference call on the same day.
Lear Corporation (NYSE: LEA), a leader in automotive technology, is set to participate in a fireside chat at the 20th Annual J.P. Morgan Tech/Auto Forum on January 5, 2022. The event will feature Ray Scott, President and CEO, and Jason Cardew, SVP and CFO. The webcast starts at 4:00 PM EST and lasts approximately 30 minutes. Lear Corporation, headquartered in Southfield, Michigan, specializes in Seating and E-Systems, striving for innovation and sustainability in the automotive industry. More information can be found at ir.lear.com.
Lear Corporation (NYSE: LEA), a leader in automotive technology, will engage in a fireside chat at the Credit Suisse 9th Annual Industrials Conference on December 2, 2021. The session starts at 1:30 PM EST and lasts approximately 30 minutes. Presenters include Ray Scott, President and CEO, and Jason Cardew, SVP and CFO. The webcast can be accessed via the company’s website at ir.lear.com. Lear is renowned for its commitment to innovation, operational excellence, and sustainability, and it ranks 179 on the Fortune 500.
Lear Corporation (LEA) announced a cash tender offer for up to $200,000,000 of its 3.800% Senior Notes due 2027. The Reference Yield for the notes is 1.161%, with a Total Consideration of $1,104.82 per $1,000 principal amount. Eligible holders who tender notes by November 18, 2021 will receive an additional $30 as an Early Tender Payment. The offer is subject to conditions and may be terminated at Lear's discretion. The company will prorate purchases if tenders exceed the maximum amount.
Lear Corporation (NYSE: LEA) has announced early results for its cash tender offer to purchase up to $200,000,000 of its 3.800% Senior Notes due 2027. As of the early tender date on November 18, 2021, $338,924,000 of notes were tendered. Lear plans to prorate purchases due to demand exceeding the maximum amount. The total consideration for accepted notes will include an early tender payment of $30 for each $1,000 principal amount. Payment for accepted notes is expected on November 22, 2021.