Lear Q2 sales $6.0B record (+18% YoY); adj EPS $3.33 (+86%); free cash flow $159M

LEAR CORP

2023-Q2 EPS reported $5.25 revenue$11,844,700,000

Net income $168.7M ($2.84 EPS) vs $68.5M ($1.14 EPS); adjusted net income $197.9M ($3.33 adj EPS).
Core operating earnings $301.8M, up 61% from $187.4M; margin improved to 5.0% of sales from 3.7%.
Seating segment adjusted margin 7.2%; E-Systems adjusted margin 4.1%; sales outperformed global production by 2 ppt.
Free cash flow $159M vs $(161)M; cash $902M, total liquidity $2.9B; share repurchases & dividends $83M.
Completed acquisition of I.G. Bauerhin (IGB) for thermal comfort; reaffirmed 2023 outlook (updated June 27).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LEAR CORP reported second quarter 2023 results: revenue $3.33, EPS $3.33.

Period: second quarter 2023
Revenue: $3.33
EPS: $3.33
Result: reported results

Exact text from the filing

profitable growth, strong cash flow and significant shareholder returns.” Second Quarter Financial Results (in millions, except per share amounts) 2023 2022 Reported Sales $ 5,999.2 $ 5,071.0 Net income $ 168.7 $ 68.5 Earnings per share $ 2.84 $ 1.14 Adjusted (1) Core operating earnings $ 301.8 $ 187.4 Adjusted net income $ 197.9 $ 107.4 Adjusted earnings per

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LEAR CORP reported second quarter 2023 results: revenue $3.33, EPS $3.33.

Period: second quarter 2023
Revenue: $3.33
EPS: $3.33
Result: reported results

Exact text from the filing

Adjusted earnings per share were $3.33 up 86% compared to a year ago, primarily reflecting higher operating earnings.

View on SEC.gov

4 earnings releases filed in the last 30 days. Browse all earnings releases →

LEAR CORP filing history →

Source: SEC EDGAR

accession 0000842162-23-000043

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