Lear Stock Price, News & Analysis

Lear Corporation (NYSE: LEA) reported strong financial results for Q4 and full year 2022, showcasing a 10% increase in quarterly sales to $5.4 billion and an 8% rise in annual sales to $20.9 billion. Net income for Q4 reached $118 million, while full-year net income was $328 million. The company outperformed the market, with growth driven by its Seating and E-Systems segments, supported by a $2.85 billion sales backlog for 2023-2025. Lear's 2023 outlook anticipates net sales between $21.2 billion and $22.2 billion, with a focus on continued growth despite modest expected production increases.

Lear Corporation (NYSE: LEA), a leader in automotive technology, has scheduled a conference call for February 2, 2023, at 9:00 a.m. EST to discuss its fourth quarter and full year 2022 financial results. Investors can join by calling 877-883-0383 (toll-free) or 412-902-6506 (international), using conference code 9600227. A live audio webcast will also be available on Lear's Investor Relations website, with a replay accessible two hours after the call. A presentation slide will be posted prior to the call.

Lear Corporation (NYSE: LEA), a leader in automotive technology specializing in Seating and E-Systems, will take part in a fireside chat at the Goldman Sachs 14th Annual Global Automotive Conference in London on December 8, 2022. The discussion will feature key executives: Jason Cardew, Chief Financial Officer; Frank Orsini, President of Seating; and Carl Esposito, President of E-Systems. The webcast starts at 4:50 AM EST and lasts approximately 40 minutes, accessible at ir.lear.com.

Lear Corporation (NYSE: LEA) has announced its strategic acquisition of InTouch Automation, a key player in Industry 4.0 technologies vital for automotive seat production. This acquisition aims to enhance Lear's automation capabilities and manufacturing flexibility, aligning with its strategy to implement advanced testing solutions. InTouch, founded in 2006, specializes in automated testing equipment and real-time data analytics, further standardizing processes in Lear's just-in-time seating production.

Lear Corporation (NYSE: LEA) announced a quarterly cash dividend of $0.77 per share on November 15, 2022. This dividend is payable on December 27, 2022, to shareholders of record at the close of business on December 7, 2022. As a significant player in automotive technology, Lear aims to enhance consumer experiences globally through its innovative approaches in Seating and E-Systems. The company operates in 38 countries and serves major automakers worldwide, ranking 186 on the Fortune 500.

Lear Corporation (NYSE: LEA) reported a strong third quarter for 2022, with sales increasing 23% to $5.2 billion compared to $4.3 billion in Q3 2021. Net income rose to $92 million from a loss of $27 million a year ago. Adjusted earnings per share reached $2.33, up from $0.53. The company generated $252 million in operating cash flow and $112 million in free cash flow. Lear was selected by General Motors as a supplier for its Battery Disconnect Unit for EVs through 2030 and achieved multiple awards in seat quality. The company returned $71 million to shareholders through dividends and repurchases.

Lear Corporation (NYSE: LEA) has been awarded a major contract by General Motors to supply the Battery Disconnect Unit (BDU) for all full-size SUVs and trucks on the Ultium EV Platform through 2030. The company plans to invest over $80 million in a new manufacturing facility in Michigan, expected to generate $500 million in annual electrification sales once fully operational. This award expands Lear's existing partnership with GM and marks a significant win for its E-Systems division, underscoring the company's commitment to innovative technologies in electric vehicle production.

On October 26, 2022, Lear Corporation (NYSE: LEA) announced the upcoming launch of ReNewKnit™, a premium automotive textile made from 100% recycled plastic bottles. Set to debut in 2024 for seating and door panel applications with a global automaker, ReNewKnit™ is fully recyclable and strengthens Lear's sustainable technology portfolio. The material, which is manufactured using renewable electricity, aims to support carbon reduction goals while providing a premium look and feel similar to suede. Production will take place in the UK and Poland.