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 (NYSE: LEA) is a global automotive technology company specializing in Seating and E-Systems for the world’s major automakers. This news page aggregates company announcements, financial updates, and other disclosures that help investors and industry followers track developments affecting LEA stock and Lear’s role in the automotive supply chain.
Readers can find earnings-related news, including quarterly and full-year results, updates to financial outlook, and details on segment performance in Seating and E-Systems. Lear frequently issues press releases in connection with its earnings conference calls, where management discusses results, margins, cash flow, and non-GAAP measures such as core operating earnings, adjusted EBITDA, and free cash flow.
The feed also includes capital allocation and corporate actions, such as announcements of quarterly cash dividends on Lear common stock and activity under the company’s share repurchase program. These items provide insight into how Lear balances returning capital to shareholders with funding its operations and investments.
Another key category is strategic and operational updates. Lear reports on its participation in investor conferences, its multi-year partnership with Palantir Technologies, and the expansion of the IDEA by Lear transformation program, which uses digital and AI tools to improve efficiency across manufacturing and administrative functions. The company also highlights customer awards, quality recognitions, and new business wins in Seating and E-Systems.
For anyone following the automotive manufacturing and technology space, this page offers a centralized view of Lear’s official news flow. Investors, analysts, and industry observers can use it to monitor how Lear’s Seating and E-Systems businesses evolve over time and how management communicates performance, strategy, and recognition from customers and third parties.
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Lear Corporation (NYSE: LEA) reported a strong first quarter in 2023 with sales rising 12% to $5.8 billion, compared to $5.2 billion in Q1 2022. Adjusted net income reached $166 million, significantly up from $108 million a year ago. The company's core operating earnings soared 43% to $263 million, and earnings per share increased to $2.41 from $0.82. The acquisition of I.G. Bauerhin enhances Lear's thermal comfort systems product capabilities. Despite challenges, including a net cash outflow of $(36) million, Lear maintained total liquidity of $2.9 billion. They plan to return $72 million to shareholders through dividends and share repurchases. Lear's positive outlook for 2023 anticipates net sales between $21.2 billion and $22.2 billion, supported by a strong backlog and recent business awards.
Lear Corporation (NYSE: LEA) announced the completion of its acquisition of I.G. Bauerhin (IGB) for €140 million, enhancing its Thermal Comfort Systems portfolio. IGB, located in Germany, specializes in automotive seat heating and ventilation technologies, employing over 4,600 people across several countries. This acquisition marks Lear's commitment to developing integrated in-vehicle comfort solutions, bolstering its position as a leading seat supplier. The move follows Lear's previous acquisition of Kongsberg Automotive's Interior Comfort Systems in February 2022. With increasing demand for thermal comfort features in automotive seating, this acquisition is expected to meet customer demands across various vehicle segments, enhancing overall product offerings.
Lear Corporation (NYSE: LEA) announced a conference call to discuss its first quarter 2023 financial results on April 27, 2023, at 8:30 a.m. EDT. The call will cover key financial metrics and updates.
Participants can join through a webcast or by phone. A slide presentation and replay will be available on the company's Investor Relations website.
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Lear Corporation (NYSE: LEA), a leader in automotive technology, announced that Jason Cardew, SVP and CFO, will join a fireside chat on March 14, 2023, with John Murphy, BofA Automotive Equity Analyst. The webcast starts at 10:30 AM EDT and is expected to last about 30 minutes. Investors can access the link on the Company's website at ir.lear.com. Lear, headquartered in Southfield, Michigan, specializes in Seating and E-Systems, providing innovative technologies that enhance in-vehicle experiences for consumers worldwide.