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 reports recurring developments as a global automotive technology supplier focused on Seating and E-Systems. Its news commonly covers quarterly and annual operating results, financial outlook updates, segment performance, vehicle production trends, new business on automaker platforms, commercial recoveries, and the winddown of non-core products.
The company also announces capital-return actions, including quarterly cash dividends and share repurchases, and participates in automotive and industrial investor conferences. Lear's business updates are tied to seating components such as frames, mechanisms, covers, heating and cooling, foam and headrests, as well as electrical distribution, connection and electronic systems for vehicles.
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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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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