Lear (LEA) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 24. On t ...

SOUTHFIELD, Mich., Oct. 2, 2024 /PRNewswire/ -- Lear Corporation will hold a conference call to review the company's third quarter 2024 financial results and related matters on October 24, 2024, at 8:00 a.m. EDT. To participate in the conference call: Webcast link: click here Toll-free calls: 877-883-0383 International calls: 412-902-6506 The conference code is 7307511. You also may listen to the live audio webcast of the call, in listen-only mode, on Lear's Investor Relations website at ir.lear.com. The we ...

Analyst's Disclosure: I/we have a beneficial long position in the shares of LEA, VLEEY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to give financial ...

SOUTHFIELD, Mich., Aug. 29, 2024 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, will participate in a fireside chat on September 11, 2024, at the Morgan Stanley 12th Annual Laguna Conference in Dana Point, California. Representing Lear will be: Jason Cardew, SVP and Chief Financial Officer Frank Orsini, EVP and President, Seating Lear's webcast will begin at 5:00 PM EDT (2:00 PM PDT) and will run approximately 30 minutes. The webcast link will b ...

SOUTHFIELD, Mich., Aug. 26, 2024 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, collected eight top-three finishes – more than twice as many as the next closest competitor – in the J.D. Power 2024 U.S. Seat Quality and Satisfaction Study℠. Lear was also the only company to sweep one of the study's seven vehicle segments, taking first, second and third place in the Premium Car category. The comprehensive industry analysis conducted by J.D. Power ...

Core Viewpoint - Lear Corporation has appointed Rod Lache, a former Wall Street automotive analyst, to its Board of Directors, effective August 12, 2024, enhancing the board's expertise in the automotive industry [1][2][3]. Group 1: Appointment Details - Rod Lache's appointment increases Lear's board size to 11 directors, reflecting the company's commitment to ensuring a diverse range of skills and experiences on its board [6]. - Lache has a distinguished background, having recently retired from Wolfe Research, LLC, where he served as Managing Director and Senior Analyst for six years, and previously spent 24 years at Deutsche Bank [3][4]. Group 2: Expertise and Contributions - Lache is recognized as a top automotive industry analyst in the U.S., known for his innovative research on strategic, competitive, and technological themes, including the rise of electrified vehicles and AI in the automotive sector [4]. - His induction into the Institutional Investor Magazine Hall of Fame in 2021 highlights his significant contributions to the field [4]. Group 3: Vision for the Company - Lache expressed confidence in Lear's operational excellence and its potential for design innovation and automation to enhance competitive advantage [5]. - He aims to contribute to shareholder value creation during transformative times for the automotive industry [5]. Group 4: Company Overview - Lear Corporation is a global leader in automotive technology, specializing in Seating and E-Systems, and is committed to innovation, operational excellence, and sustainability [7]. - The company serves every major automaker worldwide and ranks 174 on the Fortune 500 [7].

Investment Rating - The report does not explicitly mention an investment rating for Lear Corporation (LEA) [1][2][3] Core Views - Lear Corporation's Q2 2024 revenue was $6 billion, showing a slight year-over-year increase, with overall revenue growth outperforming the market by approximately 3 percentage points (PP) [2][8] - The company's core operating EBIT remained flat at $302 million compared to the same period last year, while adjusted EPS increased by 8% to $3.6 [9] - Free cash flow for Q2 2024 was $170 million, up 8% year-over-year, while operating cash flow decreased by 6% to $291 million [10] - The company expects full-year 2024 revenue to be between $23.2 billion and $23.7 billion, with core operating earnings projected at $1.03 billion to $1.2 billion and adjusted EBITDA between $1.7 billion and $1.8 billion [17] Financial Performance Revenue - Q2 2024 revenue was $6 billion, with electronic systems revenue growing 2% year-over-year to $1.6 billion and seating revenue flat at $4.4 billion [8][11][13] - North America revenue growth outperformed the market by 1 PP, Europe by 7 PP, while China lagged behind the market by 5 PP [2][16] Profitability - Core operating EBIT was $302 million, flat year-over-year, with adjusted EPS at $3.6, up 8% [9] - Seating business adjusted earnings were $302 million, down 6%, with an adjusted operating margin of 6.8% [11] - Electronic systems business adjusted earnings were $82 million, up 30%, with an adjusted operating margin of 5.3%, up from 4.1% in the same period last year [13] Cash Flow - Free cash flow was $170 million, up 8% year-over-year, while operating cash flow was $291 million, down 6% [10] - The company repurchased $60 million worth of shares and paid $44.7 million in dividends during Q2 2024 [10] Business Segments Seating Business - Q2 2024 seating revenue was $4.4 billion, flat year-over-year, with adjusted earnings of $302 million, down 6% [11] - The company is advancing its thermal comfort solutions, including the ComfortFlex modular seating and ComfortMax seating products, with plans to supply these to Volvo, Lucid, and a European OEM [11][12] - The company expects seating thermal comfort revenue to exceed $1 billion by 2027 [12] Electronic Systems Business - Q2 2024 electronic systems revenue was $1.6 billion, up 2% year-over-year, with adjusted earnings of $82 million, up 30% [13] - The business achieved its eighth consecutive quarter of year-over-year margin growth, securing orders from Volvo, Geely, and potential orders from Volkswagen and Audi [13] - The acquisition of WIP, an industrial automation company, was completed on July 17, 2024, to accelerate the company's global industrial automation plan [13] Regional Performance - Global automotive production in Q2 2024 was 21.8 million units, down 1% year-over-year, with North America up 2%, Europe and Africa down 6%, and China up 5% [15] - North America revenue growth outperformed the market by 1 PP, Europe by 7 PP, while China lagged behind the market by 5 PP [16] Guidance - Full-year 2024 revenue is expected to be between $23.2 billion and $23.7 billion, with core operating earnings projected at $1.03 billion to $1.2 billion and adjusted EBITDA between $1.7 billion and $1.8 billion [17] - H2 2024 seating revenue is expected to be $8.5 billion, with core operating earnings of $533 million [18] - H2 2024 electronic systems revenue is expected to be $3 billion, with core operating earnings of $166 million [19] Customer Development - The company has a strong presence in China, with two-thirds of its orders in the past three years coming from local Chinese automakers, including BYD and Geely [14] - The company expects to supply approximately 30% of BYD's seating needs in the coming years [14] Automation and Efficiency - The company is focusing on automation to improve efficiency and reduce labor costs, with recent acquisitions like WIP contributing to this strategy [13][30] - The company expects to see significant cost savings and margin improvements from its automation initiatives in the coming years [24][30] Market Trends - The company is navigating the transition from internal combustion engine (ICE) vehicles to electric vehicles (EVs), with EV platform sales declines impacting revenue [21][22] - The company expects to outperform the market in both seating and electronic systems businesses, with seating expected to grow 4% and electronic systems 6% over the next five years [23][24]

While analyzing LEA's performance for the last quarter, we found some intriguing trends in revenues from its overseas segments that Wall Street analysts commonly model and monitor. During the quarter, South America contributed $213.9 million in revenue, making up 3.6% of the total revenue. When compared to the consensus estimate of $221.51 million, this meant a surprise of -3.44%. Looking back, South America contributed $205.2 million, or 3.4%, in the previous quarter, and $227.8 million, or 3.8%, in the sa ...

"Through hundreds of efficiency projects and the increased use of renewable energy at our operations around the world, we are pleased to report that Lear is making progress toward our climate goals," said Ray Scott, Lear President and CEO. "In addition, major automakers are adopting our sustainable product innovations, which are designed to reduce environmental impact, lower carbon emissions and use recycled and recyclable content to support a global circular economy." Environmental Stewardship Sustainable ...

Lear Corp. (LEA) reported second-quarter 2024 adjusted earnings per share of $3.60, which increased from $3.33 recorded in the year-ago quarter and beat the Zacks Consensus Estimate of $3.34. In the reported quarter, revenues increased 0.2% year over year to $6.01 billion and surpassed the Zacks Consensus Estimate of $6 billion. Sales of the E-Systems segment were $1.57 billion, rising 2.2% year over and beating the Zacks Consensus Estimate of $1.55 billion. Adjusted segmental earnings amounted to $82.2 mil ...