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, 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.
Lear (NYSE: LEA), a global leader in automotive technology specializing in Seating and E-Systems, will participate in the Deutsche Bank Global Auto Industry Conference on June 11, 2024, in New York.
Representatives Ray Scott (President and CEO) and Jason Cardew (SVP and CFO) will join a fireside chat starting at 9:00am EDT, available via webcast on the company's website. The replay will follow post-event.
Lear, headquartered in Southfield, Michigan, serves all major automakers worldwide and ranks 189th on the Fortune 500, emphasizing innovation, operational excellence, and sustainability.
Lear (NYSE: LEA) announced two key leadership changes effective May 16, 2024, as part of their IDEA (Innovative, Digital, Engineered, Automated) strategy. Carl Esposito, previously Senior Vice President and President of E-Systems, is now Senior Vice President overseeing IDEA by Lear. Previously, Esposito was President of Electronic Solutions at Honeywell Aerospace. Nick Roelli, Vice President of Seating, North America, will replace Esposito as Senior Vice President and President of E-Systems. Roelli has been with Lear since 1994 and has extensive experience in the automotive industry. These changes aim to propel Lear's growth and operational excellence.
Lear (NYSE: LEA) announced on May 16, 2024, that its Board of Directors has declared a quarterly cash dividend of $0.77 per share on the company’s common stock.
The dividend will be payable on June 25, 2024, to shareholders who are on record as of June 6, 2024. Lear , headquartered in Southfield, Michigan, is a global leader in automotive technology, focusing on Seating and E-Systems. The company serves every major automaker worldwide and ranks 189 on the Fortune 500 list.