Lear Stock Price, News & Analysis

Lear (LEA) has announced its upcoming third quarter 2024 earnings conference call, scheduled for October 24, 2024, at 8:00 a.m. EDT. The company will review its financial results and related matters during this call. Participants can join via a webcast link or by calling toll-free at 877-883-0383 (US) or 412-902-6506 (international) using the conference code 7307511.

An audio webcast will be available in listen-only mode on Lear's Investor Relations website, with a replay accessible two hours after the call. The third quarter 2024 slide presentation will be available on Lear's website before the earnings call begins on October 24, 2024.

Lear (NYSE: LEA), a global automotive technology leader, will participate in the Morgan Stanley 12th Annual Laguna Conference on September 11, 2024, in Dana Point, California. The company will be represented by Jason Cardew, SVP and CFO, and Frank Orsini, EVP and President of Seating.

The fireside chat will begin at 5:00 PM EDT (2:00 PM PDT) and last approximately 30 minutes. A webcast link will be available on Lear's investor relations website. Lear, headquartered in Southfield, Michigan, specializes in Seating and E-Systems, serving major automakers worldwide and ranking 174 on the Fortune 500.

Lear (NYSE: LEA), a global automotive technology leader, has demonstrated its dominance in the J.D. Power 2024 U.S. Seat Quality and Satisfaction Study℠. The company secured eight top-three finishes, more than double its closest competitor. Notably, Lear swept the Premium Car category, claiming all three top positions. Lear also achieved:

- The best in-segment score (3.8) in the Premium Car classification
- Top-three placements in five out of seven segments
- Four out of six top-three finishes across Premium segments

Frank Orsini, EVP and President of Seating, attributed this success to Lear's investment in operational excellence, vertical integration, and innovative technologies like ComfortFlex and ComfortMax Seat. The study, based on 99,144 responses from new vehicle owners, underscores Lear's commitment to delivering superior comfort, design, and quality in automotive seating.

Lear (NYSE: LEA), a global automotive technology leader, has announced a quarterly cash dividend of $0.77 per share on its common stock. The dividend will be payable on September 23, 2024, to shareholders of record at the close of business on September 4, 2024. Lear, headquartered in Southfield, Michigan, specializes in Seating and E-Systems for the automotive industry. The company operates in 38 countries and is ranked 174 on the Fortune 500. Lear's focus on innovation, operational excellence, and sustainability aims to provide superior in-vehicle experiences for consumers worldwide.

Lear (NYSE: LEA), a global automotive technology leader, has appointed Rod Lache, a distinguished former Wall Street automotive analyst, to its Board of Directors, effective August 12, 2024. Lache, who recently retired from Wolfe Research, , brings extensive industry expertise and insight into emerging trends. His appointment increases Lear's board size to 11 directors.

Lache's career highlights include:

• 24 years at Deutsche Bank, rising to Managing Director and Senior Analyst
• Recognized as the top auto industry analyst in the U.S.
• Inducted into the Institutional Investor Magazine Hall of Fame in 2021
• Known for innovative research on strategic, competitive, and technological themes

Lear's Non-Executive Chair, Greg Smith, praised Lache's unique qualifications and industry insights, expressing confidence in his ability to contribute to shareholder value creation during transformative times in the automotive sector.

Lear (NYSE: LEA), a global automotive technology leader, has released its 2023 Sustainability Report, highlighting progress on climate goals, sustainable product innovations, and inclusion initiatives. Key achievements include:

• Reporting Scope 3 emissions data for the first time
• Commissioning four new on-site solar arrays
• Achieving 100% renewable electricity in four European countries
• Reaching landfill-free status at 39 facilities in 15 countries

Lear's sustainable products include ReNewKnit™ sueded surface material and FlexAir™, a recyclable non-foam alternative. The company also provided 7.5 million hours of training and enhanced supplier sustainability efforts. Lear's report aligns with GRI Standards, SASB framework, and TCFD recommendations.

Lear (NYSE: LEA) reported record quarterly revenue of $6.0 billion in Q2 2024, a slight increase from Q2 2023. The company achieved total growth over market of 3 percentage points, with 7 points in E-Systems and 2 points in Seating. Net income rose to $173 million from $169 million, while adjusted earnings per share increased 8% to $3.60. Lear maintained core operating earnings of $302 million and reported free cash flow of $170 million. The company introduced new ComfortFlex and ComfortMax Seat technologies, secured new business awards, and continued its share repurchase program. Lear updated its 2024 financial outlook, projecting net sales between $23,230 million and $23,670 million.

Lear (NYSE: LEA), a global automotive technology leader, has completed its acquisition of WIP Industrial Automation. WIP, based in Spain, specializes in developing and deploying customized automation solutions for production applications, bringing strong robotics and AI-based computer vision capabilities to Lear. This acquisition is part of Lear's IDEA strategy, aimed at extending its leadership in operational excellence and developing next-generation automation technologies.

The acquisition builds upon Lear's previous integrations of ASI Automation, Thagora Technology SRL, and InTouch Automation. It equips Lear with a robust portfolio of automation solutions spanning critical areas of manufacturing. This move is expected to help Lear operate more efficiently and navigate current macroeconomic challenges, such as elevated wage inflation.

Lear will host a conference call to discuss its second-quarter 2024 financial results on July 25, 2024, at 9:00 a.m. EDT.

The call can be accessed via a toll-free number (877-883-0383) for U.S. participants and a separate number (412-902-6506) for international callers. The conference code is 4935995.

Additionally, a live audio webcast will be available on Lear's Investor Relations website, with a replay accessible two hours after the call. A corresponding slide presentation will be made available on the website prior to the call.