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), a global leader in automotive seating and electrical systems, provides this centralized hub for tracking official announcements and strategic developments. Access verified press releases and news updates covering product innovations, manufacturing advancements, and corporate milestones.
This resource enables stakeholders to monitor Lear’s progress in vehicle comfort technologies and electrical distribution solutions. Expect updates on earnings reports, strategic partnerships, and technological breakthroughs across its Seating and E-Systems divisions. Content spans operational expansions, sustainability initiatives, and leadership updates relevant to the automotive supply chain.
Bookmark this page for direct access to Lear’s latest financial communications and market-moving developments. Combine regular monitoring with SEC filings and earnings transcripts for comprehensive analysis of this Fortune 500 supplier’s performance.
CITGO and Xevo have signed an agreement to launch a CITGO in-vehicle app, connecting consumers to over 4,500 CITGO retail locations. This app, powered by Xevo's Market platform, enables embedded ordering and transactions via in-vehicle touchscreens, simplifying fuel purchases. Customers can link their CITGO loyalty accounts to earn rewards on fuel bought through the app. CITGO aims to enhance customer experiences at its branded locations while adapting to technological advancements in daily life.
Lear Corporation reported its Q4 2020 and full-year financial results, showing significant growth despite pandemic challenges. Q4 sales reached $5.2 billion, up from $4.8 billion in 2019. Net income rose to $202 million, with EPS at $3.33. For 2020, total sales declined to $17.0 billion amid a 17% drop in global vehicle production. Looking ahead, Lear projects 2021 net sales between $19.8 billion and $20.8 billion, with anticipated core operating earnings of $1.13 - $1.30 billion.
Lear Corporation (NYSE: LEA) will conduct a conference call on February 4, 2021, at 8:30 a.m. EST to discuss its fourth quarter and full year 2020 financial results. Interested parties can join via toll-free number 877-883-0383 or international line 412-902-6506, using conference code 4077371. A live audio webcast will also be available on Lear's Investor Relations website. The associated slide presentation will be posted prior to the call.
On January 11, 2021, Lear Corporation (NYSE: LEA) announced a partnership between its Xevo software business and Grubhub, allowing contactless food ordering in FCA vehicles via the Uconnect Market platform. The Grubhub app will enable users to easily reorder their favorite meals and discover new options while on the go. This feature underscores Lear's commitment to enhancing in-vehicle experiences by enabling safe transactions without shared surfaces. The Uconnect Market is available in various 2019 and 2020 Chrysler, Dodge, Jeep, and Ram models equipped with connected services.
Lear Corporation (NYSE: LEA), a leader in automotive technology, will participate in a fireside chat at the J.P. Morgan 19th Annual Tech/Auto Forum on January 12, 2021. The event will feature key executives including Frank Orsini, Carl Esposito, and John Absmeier. The webcast will start at 4:35 PM EST and is expected to last approximately 30 minutes. Interested parties can access the webcast through the Lear Investor Relations website.
Lear Corporation (NYSE: LEA), a leader in automotive technology, has reinstated its quarterly cash dividend at $0.25 per share, payable on December 29, 2020, to shareholders of record as of December 10, 2020. This decision reflects the Board's confidence in the company's financial position and outlook, particularly as industry recovery progresses. Earlier in 2020, Lear suspended its dividend due to COVID-19 but has begun reversing austerity measures. The Board anticipates future dividend increases aligned with improved financial performance.
On November 17, 2020, Lear Corporation (NYSE: LEA) announced its participation in the Credit Suisse 8th Annual Virtual Industrials Conference scheduled for December 3, 2020. The discussion will feature Ray Scott, President and CEO, and Jason Cardew, Senior Vice President and CFO. The webcast will start at 1:10 PM EST and is expected to last approximately 30 minutes. Interested parties can access the webcast through Lear's website at ir.lear.com.
On November 10, 2020, Lear Corporation (NYSE: LEA) announced the appointment of Roger A. Krone, CEO of Leidos, and Patricia L. Lewis, Chief HR Officer of UnitedHealth Group, to its board of directors, effective November 9. These appointments expand the board to 11 members, aiming to enhance the company's strategic direction in workforce diversity, innovation, and technology development. Krone brings extensive experience from aviation and defense sectors, while Lewis offers insights in human capital management from her roles in healthcare and technology industries.
Lear Corporation (NYSE: LEA) reported third-quarter 2020 sales of $4.9 billion, up 2% from $4.8 billion in Q3 2019. Net income was $174 million with adjusted net income of $225 million. Earnings per share (EPS) were $2.89, lower than $3.58 last year, while adjusted EPS increased to $3.73. Operating cash flow rose to $565 million and free cash flow to $474 million. The company ended Q3 with $1.25 billion in cash, and total liquidity of $3 billion. Lear reinstated guidance for 2020, projecting net sales of $16.35 - $16.65 billion.
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