Lear Q3 net loss $27M; adjusted EPS $0.53 vs $3.73; sales down 13%; doubles dividend to $0.50

LEAR CORP

2021-Q3 EPS reported $5.83 revenue$14,383,300,000

Net loss of $(27M) ($(0.44) per share); adjusted net income $32M ($0.53 adjusted EPS).
Sales $4.3B, down 13% YoY, outperforming global vehicle production by 9 percentage points.
Core operating earnings $98M (2.3% of sales) vs $327M a year ago; free cash flow $(157M).
Doubled quarterly cash dividend to $0.50 per share; repurchased $69M in shares during Q3.
Announced definitive agreement to acquire substantially all of Kongsberg Automotive's Interior Comfort Division.

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