secwatch.observer — SEC 8-K summary
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Issuer:     LEAR CORP (LEA)
CIK:        0000842162
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000842162-24-000030
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lear Q1 record revenue $6.0B; adj EPS $3.18 up 14% YoY; $1.5B buyback auth
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- Q1 revenue $6.0B, +3% YoY; record quarter; sales outperformed global vehicle production.
- GAAP EPS $1.90; adjusted EPS $3.18, +14% YoY; core operating earnings $280M, +6%.
- E-Systems 7th consecutive quarter of margin improvement; Seating adjusted margin 6.6%.
- Acquired WIP Industrial Automation to strengthen automation/ AI; expected close by Q3 2024.
- Share repurchase authorization increased to $1.5B, extended to Dec 31, 2026; $30M repurchased in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842162/000084216224000030/0000842162-24-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842162/000084216224000030/lear-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000842162-24-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer