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) is a global automotive technology company specializing in Seating and E-Systems for the world’s major automakers. This news page aggregates company announcements, financial updates, and other disclosures that help investors and industry followers track developments affecting LEA stock and Lear’s role in the automotive supply chain.
Readers can find earnings-related news, including quarterly and full-year results, updates to financial outlook, and details on segment performance in Seating and E-Systems. Lear frequently issues press releases in connection with its earnings conference calls, where management discusses results, margins, cash flow, and non-GAAP measures such as core operating earnings, adjusted EBITDA, and free cash flow.
The feed also includes capital allocation and corporate actions, such as announcements of quarterly cash dividends on Lear common stock and activity under the company’s share repurchase program. These items provide insight into how Lear balances returning capital to shareholders with funding its operations and investments.
Another key category is strategic and operational updates. Lear reports on its participation in investor conferences, its multi-year partnership with Palantir Technologies, and the expansion of the IDEA by Lear transformation program, which uses digital and AI tools to improve efficiency across manufacturing and administrative functions. The company also highlights customer awards, quality recognitions, and new business wins in Seating and E-Systems.
For anyone following the automotive manufacturing and technology space, this page offers a centralized view of Lear’s official news flow. Investors, analysts, and industry observers can use it to monitor how Lear’s Seating and E-Systems businesses evolve over time and how management communicates performance, strategy, and recognition from customers and third parties.
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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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.
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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.