Lear Stock Price, News & Analysis

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.

Lear Corporation (NYSE: LEA) has announced a conference call to discuss its third quarter 2020 financial results on October 30, 2020, at 8:30 a.m. EDT. Participants can join via toll-free calls at 877-883-0383 or internationally at 412-902-6506, using conference code 6293942. A live audio webcast will also be available on Lear's Investor Relations website, with a replay accessible two hours post-call. The earnings slide presentation will be published before the call.

Lear Corporation (NYSE: LEA) announced a partnership between its Xevo software business and REEF Technology to enhance parking solutions. This collaboration will allow consumers to find, reserve, and pay for parking spaces directly from their vehicle's touchscreen, promoting contactless transactions amid social distancing. REEF, with over 4,500 off-street parking sites in North America, aims to transform urban spaces while providing added convenience to Xevo Market users. This integration is designed to streamline vehicle-related services and improve the connected car experience.

Lear Corporation (NYSE: LEA), a leader in automotive technology, is set to participate in a fireside chat at Morgan Stanley's Virtual 8th Annual Laguna Conference on September 15, 2020. Key speakers include Frank Orsini, Carl Esposito, and John Absmeier, who will discuss the company's innovations in Seating and E-Systems. The audio webcast begins at 8:15 AM EDT and will last approximately 30 minutes, accessible via the Lear website.

Lear Corporation (NYSE: LEA), a leader in automotive technology, announced its participation in the RBC Capital Markets Global Industrials Virtual Conference on September 15, 2020. The presentation will feature Ray Scott, President and CEO, and Jason Cardew, Senior Vice President and CFO. The audio webcast starts at 1:00 PM EDT and lasts approximately 30 minutes. The webcast link will be available on the company's website at ir.lear.com. Lear aims to enhance in-vehicle experiences through innovation and sustainability.

Lear Corporation (NYSE: LEA) reported a significant decline in financial performance for Q2 2020 due to the COVID-19 pandemic, with sales of $2.4 billion, down 51% from $5.0 billion in the same quarter last year. The company recorded a net loss of $(294) million and adjusted net loss of $(249) million. Earnings per share fell to $(4.89), down from $2.92 in Q2 2019. Despite these challenges, Lear ended the quarter with a cash balance of $1.8 billion and total liquidity of $2.5 billion. The company was awarded significant new business, indicating some recovery prospects as the industry stabilizes.

Lear Corporation (NYSE: LEA), a global leader in automotive technology, will host a conference call on August 4, 2020, at 8:30 a.m. EDT to discuss its second quarter 2020 financial results. Participants can join via toll-free calls at 877-270-2148 or international calls at 412-902-6510, using the conference code 7705540. A live audio webcast will also be available on Lear's Investor Relations website. The earnings presentation will be accessible two hours post-call.