Financial Data and Key Metrics Changes - Lear Corporation achieved record revenue of $23.5 billion in 2023, a 12% increase from 2022. Core operating earnings grew by 29% to $1.1 billion, and adjusted earnings per share rose by 38% to $12.02. Operating cash flow improved by 22% to over $1.2 billion, exceeding the free cash flow conversion target of 80% [15][19][44]. Business Line Data and Key Metrics Changes - In the Seating segment, sales for Q4 2023 were $4.3 billion, an 8% increase from 2022, driven by a strong backlog. Core operating earnings improved to $294 million, with adjusted operating margins at 6.8% [41][42]. - The E-Systems segment reported sales of $1.5 billion for Q4 2023, a 12% increase from 2022. Core operating earnings improved to $84 million, reflecting strong net operating performance and margin recovery [50][43]. Market Data and Key Metrics Changes - Global vehicle production increased by 9% year-over-year, with production volumes up 5% in North America, 7% in Europe, and 18% in China. However, North America and China underperformed the market by four and three percentage points, respectively, due to unfavorable platform mix [34][37]. Company Strategy and Development Direction - Lear Corporation's strategy includes focusing on thermal comfort capabilities and modular seating solutions, with 15 projects in process with 11 customers. The company aims to diversify its customer base and has won significant awards with major automakers [16][18][62]. - The Lear Forward plan is designed to drive efficiencies and maximize cash flow generation, with a focus on automation to offset global wage inflation [52][46]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving higher sales, operating earnings, and earnings per share in 2024, despite expectations for flat industry volumes. Revenue is projected to be between $24 billion and $24.6 billion, representing a 4% increase over 2023 [48][56]. - Wage inflation and transactional foreign exchange are anticipated to be headwinds, but management expects to recover costs through negotiations and operational improvements [75][96]. Other Important Information - Lear Corporation's backlog for 2024 to 2026 is approximately $2.8 billion, with a significant portion driven by new business wins, particularly in the EV sector. The company has also seen a 70% increase in backlog at non-consolidated joint ventures [30][32]. - The company has received recognition for its quality and culture, being named one of the most admired companies by Fortune Magazine for the eighth consecutive year [20]. Q&A Session Summary Question: Guidance on revenue growth and EBIT conversion - Management indicated that with backlog as the primary driver of growth, a conversion rate of 10% to 12% is expected for revenue growth, with typical variable margins of 15% to 20% in Seating and around 25% in E-Systems [70][71]. Question: Potential sources of upside or downside in 2024 - Wage inflation is identified as a significant challenge, with expectations that it will moderate in the following year. Management is focused on efficiency programs and customer negotiations to offset these costs [73][75]. Question: Pricing environment and FX impact - The pricing environment is expected to remain similar to 2023, with anticipated price downs of around 1.5% in Seating and 2% in E-Systems. The impact of transactional FX, particularly from the Mexican peso, is also factored into the guidance [97][90]. Question: EV strategy and backlog adjustments - Management acknowledged that lower EV volumes have impacted the backlog, with a conservative approach taken regarding ICE vehicle backfilling. They are actively negotiating with customers to adjust capital deployment in response to changing EV plans [99][111].

February 6, 2024 LEAR Making every drive better™ Fourth Quarter and Full Year 2023 Financial Results BUSINESS UPDATE Ray Scott, President and CEO 02 Lear Proprietary: The information contained herein is the property of Lear Corporation. 3 SALES CORE OPERATING EARNINGS $288M UP 9% YOY $23.5B UP 12% YOY Lear Proprietary: The information contained herein is the property of Lear Corporation. 5 Please see appendix for discussion of non-GAAP financial measures, as well as reconciliations of non-GAAP financial mea ...

August Outlook $1,610 - $1,740 million Interest Expense ≈$105 million No Change Effective Tax Rate 21% to 22% No Change Adjusted Net Income $680 - $710 million Operating Cash Flow $1,230 - $1,270 million August Outlook $1,180 - $1,280 million Capital Expenditures ≈$675 million August Outlook ≈$700 million Free Cash Flow $555 - $595 million August Outlook $480 - $580 million 2023 Full Year Outlook assumes an average Euro of $1.08 and an average Chinese RMB of 7.02 / $, S&P Global Mobility production forecast ...

Lear Corporation (NYSE:LEA) Q3 2023 Earnings Conference Call October 26, 2023 8:30 AM ET Company Participants Ed Lowenfeld - Vice President Investor Relations Ray Scott - President & Chief Executive Officer Jason Cardew - Senior Vice President & Chief Financial Officer Frank Orsini - Executive Vice President & President of Seating Conference Call Participants Rod Lache - Wolfe Research John Murphy - Bank of America James Picariello - BNP Paribas Colin Langan - Wells Fargo Dan Levy - Barclays Emmanuel Rosner ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023. TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 For the transition period from to . Commission file number: 001-11311 (Exact name of registrant as specified in its charter) ____ ...

Lear Corporation (NYSE:LEA) Q2 2023 Earnings Conference Call July 31, 2023 8:30 AM ET Ed Lowenfeld - Vice President of Investor Relations Raymond Scott - President & Chief Executive Officer Jason Cardew - Senior Vice President & Chief Financial Officer Company Participants Conference Call Participants James Picariello - BNP Paribas Emmanuel Rosner - Deutsche Bank Dan Levy - Barclays Colin Langan - Wells Fargo Itay Michaeli - Citi Our cost of debt is low, averaging approximately 4%. In addition, we have $2.9 ...

Company Participants Conference Call Participants Operator At this time, I'd like to turn the floor over to Ed Lowenfeld, Vice President, Investor Relations. Sir, please go ahead. Before Ray begins, I'd like to take this opportunity to remind you that as we conduct this call, we will be making forward-looking statements to assist you in understanding Lear's expectations for the future. As detailed in our safe harbor statement on Slide 2, our actual results could differ materially from these forward-looking ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1-11311 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 1 ...

Lear Corporation (NYSE:LEA) Q4 2022 Earnings Conference Call February 2, 2023 9:00 AM ET Company Participants Ed Lowenfeld - VP, IR Ray Scott - President and CEO Jason Cardew - SVP and CFO Conference Call Participants Rod Lache - Wolfe Research Mark Delaney - Goldman Sachs John Murphy - Bank of America James Picariello - BNP Paribas David Kelley - Jefferies Emmanuel Rosner - Deutsche Bank Adam Jonas - Morgan Stanley Operator Good morning, everyone, and welcome to the Lear Corporation Fourth Quarter and Full ...

| --- | --- | --- | --- | --- | --- | |-------|-------|--------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2022 | | | | | | | Financial Results | | | | | | | November 1, 2022 | | | | | | | | | | | | | | Ray Scott, President and CEO Jason Cardew, Senior Vice President and CFO | | | | Safe Harbor Statement Forward-Looking Statements This presenta ...