Lear Stock Price, News & Analysis

Lear Corporation (NYSE: LEA) has announced a definitive agreement for a joint venture with Hu Lane Associate Inc. (TPEX: 6279), a manufacturer of automotive connector products, subject to regulatory approvals. The joint venture will be based in Yangzhou, China, enhancing Lear's vertical integration for connection systems in modern vehicle architectures. This partnership aims to leverage both companies' strengths for cost savings and innovative product development, with Lear owning a majority stake. Management for the joint venture is expected to be appointed in Q4 2021.

Lear Corporation (NYSE: LEA), a leader in automotive technology, will participate in a fireside chat at the RBC Capital Markets Global Industrials Conference on September 9, 2021. Represented by Jason Cardew, SVP and Chief Financial Officer, the webcast is scheduled to begin at 9:20 AM EDT and will last approximately 30 minutes. The webcast can be accessed through Lear's official website. Lear Corporation, headquartered in Southfield, Michigan, is committed to operational excellence and sustainability, serving all major automakers globally.

Lear Corporation (NYSE: LEA) announced an increase in its quarterly cash dividend from $0.25 to $0.50 per share. The new dividend will be paid on September 21, 2021, to shareholders of record as of September 2, 2021. Non-Executive Chairman Gregory C. Smith highlighted the increase as a reflection of the company's strong financial performance amid tough industry conditions and reaffirmed the board's commitment to returning capital to shareholders. The company continues to prioritize shareholder value with future adjustments to the dividend dependent on industry circumstances.

Lear Corporation (NYSE: LEA) reported a remarkable recovery in its second quarter 2021, with sales soaring 95% to $4.8 billion compared to $2.4 billion a year earlier. Net income reached $175 million, a significant rebound from a net loss of $294 million in Q2 2020. Core operating earnings stood at $233 million, showing a turnaround from a loss of $248 million the previous year. Despite challenges from semiconductor shortages, the company achieved strong production growth, particularly in North America. The outlook for 2021 estimates sales between $19.7 billion and $20.5 billion.

Lear Corporation (NYSE: LEA) has appointed Alicia Davis as Chief Strategy Officer to spearhead its long-term growth strategy. Davis, who joined Lear in 2018 and advanced through key roles in Investor Relations and Corporate Development, will lead a strategy organization that aligns with Lear's business segments and focuses on strategic initiatives and M&A opportunities. CEO Ray Scott emphasized the automotive industry's transformative period and the company's potential for growth. Davis aims to enhance shareholder value by navigating trends in electrification and evolving consumer preferences in seating.

Lear Corporation (NYSE: LEA) will host a conference call on August 6, 2021, at 8:30 a.m. EDT to discuss its second quarter 2021 financial results. Interested parties can join the call via toll-free number 877-883-0383 or internationally at 412-902-6506, using conference code 2036623. A live audio webcast will also be available on the company's Investor Relations website. Furthermore, a slide presentation will be accessible prior to the call on the same day.

Lear Corporation (NYSE: LEA) has entered a joint development agreement with IMS Connector Systems GmbH to enhance high-speed Ethernet solutions for automotive applications. This partnership aims to provide cost-effective, scalable solutions for data transmission in increasingly connected vehicles, reducing cabling weight and costs. The companies will leverage their expertise in connector design and manufacturing to develop new connectors that enable advanced vehicle technologies. A fully validated product is expected to be available by 2023.

Lear Corporation (NYSE: LEA), a leader in automotive technology, will engage in a fireside chat on June 17, 2021, at the virtual Deutsche Bank Global Auto Industry Conference. The session, featuring Jason Cardew, SVP and CFO, and Carl Esposito, SVP and President of E-Systems, starts at 8:15 AM EDT and lasts approximately 35 minutes. A webcast link will be available on the Company's website. Lear is dedicated to enhancing in-vehicle experiences through innovation and sustainability, ranking 179 on the Fortune 500.