LEAR CORP SEC 10-Q Report

Lear Corp, a leading global supplier of automotive seating and electrical systems, has released its Form 10-Q report for the third quarter. The report provides a comprehensive overview of the company's financial and operational performance, reflecting stable demand and effective cost management amidst a challenging economic environment.

Financial Highlights

Net Sales: $6,030.4 million, reflecting a slight increase from the previous year, indicating stable demand.

Cost of Sales: $5,591.3 million, showing effective cost management with a slight increase compared to the previous year.

Consolidated Income Before Provision for Income Taxes and Equity in Net Income of Affiliates: $217.5 million, demonstrating strong operational performance.

Net Income Attributable to Lear: $165.2 million, a slight decrease from the previous year, reflecting the impact of increased costs.

Basic Net Income Per Share Attributable to Lear: $3.07, indicating a stable earnings performance per share.

Diluted Net Income Per Share Attributable to Lear: $3.06, consistent with the basic earnings per share, showing minimal dilution.

Business Highlights

Revenue Segments: The company's operations are divided into two main segments: Seating and E-Systems. The Seating segment focuses on the design and manufacture of complete seat systems and key components, while the E-Systems segment specializes in electrical distribution and connection systems, including high-voltage power distribution products.

Geographical Performance: North America remains a significant market for the company, with substantial contributions from both the Seating and E-Systems segments. Europe and Africa also represent key regions, with notable sales in both segments. Asia and South America contribute to the company's global footprint, with Asia showing strong performance in the E-Systems segment.

Sales Units: The company continues to manage high production volumes, particularly in the Seating segment, which involves synchronized assembly and just-in-time delivery of complex seat systems.

Future Outlook: The company anticipates additional restructuring charges in its Seating and E-Systems segments, with expected costs consistent with historical experience. The company is also evaluating the potential impacts of recent legislative changes on its operations and financial statements.

SEC Filing: LEAR CORP [ LEA ] - 10-Q - Jul. 25, 2025