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 (NYSE: LEA), a global automotive technology leader, announces its participation in the Goldman Sachs Industrials and Materials Conference in New York on December 4, 2024. President and CEO Ray Scott and CFO Jason Cardew will represent the company in a fireside chat starting at 9:20 AM EST for approximately 35 minutes. The webcast will be accessible through Lear's investor relations website.
Lear specializes in Seating and E-Systems, operating in 38 countries with a focus on innovation, operational excellence, and sustainability. The company ranks 174 on the Fortune 500 and serves all major global automakers from its headquarters in Southfield, Michigan.
Lear (NYSE: LEA), a global automotive technology leader, has announced a quarterly cash dividend of $0.77 per share on the Company's common stock. The dividend will be paid on December 30, 2024, to shareholders of record as of December 11, 2024. Lear specializes in Seating and E-Systems, operates in 38 countries, and ranks 174 on the Fortune 500, focusing on providing technology for safer, smarter, and more comfortable vehicle experiences.
Lear (NYSE: LEA) reported Q3 2024 results with revenue of $5.6 billion, down 3% year-over-year. The company outperformed industry volume by 3 percentage points globally. Net income increased 2% to $136 million, with earnings per share of $2.41 and adjusted EPS of $2.89. Core operating earnings were $257 million (4.6% of sales).
The company continued expansion in China with new awards from BYD, Xiaomi, and Seres in Seating, and Dongfeng Group in E-Systems. Lear repurchased $209 million of shares and maintained strong liquidity of $2.8 billion. The company updated its 2024 outlook with net sales projected between $22.95-23.15 billion.
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.