Lear Stock Price, News & Analysis

Lear Corporation (NYSE: LEA) announced a quarterly cash dividend of $0.25 per share, payable on March 23, 2021, to shareholders on record by March 4, 2021. The company also scheduled its 2021 Annual Stockholders Meeting for May 20, 2021, at 9:00 a.m. EDT via a virtual web conference, with a record date of March 26, 2021 for voting eligibility. Lear continues to enhance in-vehicle experiences, serving major automakers worldwide and ranking 166 on the Fortune 500.

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.