Lear raises 2023 outlook and targets 29% seating market share by 2027

LEAR CORP

2023 guidance raised: net sales midpoint up $1B to ~$22.7B, core earnings up $100M to ~$1.075B.
Seating market share target raised to 29% by 2027, from 25% currently, driven by luxury and EV demand.
Thermal Comfort Systems portfolio expanded; targeting Seating margins of 8.5%-9.0% by 2027.
Adjusted EBITDA midpoint raised $100M to ~$1.675B; free cash flow midpoint raised $80M to ~$530M.

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