Lear Corporation
104.08+0.91 (+0.88%)
Oct 29, 4:00:02 PM EDT · NYSE · LEA · USD
Key Stats
Market Cap
5.54BP/E (TTM)
14.72Basic EPS (TTM)
7.07Dividend Yield
0.03%Recent Filings
8-K
Lear extends $2B credit facility
Lear Corporation extended its $2.0 billion unsecured revolving credit facility to July 24, 2030, through a second amended and restated credit agreement signed on July 24, 2025, with JPMorgan Chase Bank as administrative agent and other major banks. Interest rates range from 0.925% to 1.450% for benchmark loans, with a 1.125% margin as of June 28, 2025, plus a facility fee of 0.075% to 0.20%. The deal imposes leverage limits and debt restrictions, yet Lear remains fully compliant. This bolsters liquidity amid market volatility.
8-K
Lear's steady Q2 results
Lear Corporation reported Q2 2025 revenue of $6.0 billion, flat year-over-year, with core operating earnings dipping to $292 million from $302 million amid lower production on key platforms. Yet strong execution in Seating and E-Systems segments delivered solid margins of 6.7% and 4.9%, respectively, while new wins with BMW, Ford, and Chinese automakers bolster the backlog. Lear restored full-year guidance to $22.5-23.1 billion in sales and $955-1,095 million in core earnings, assuming 2% production decline; it refinanced its $2 billion revolver to 2030. Share repurchases continue.
10-Q
Q2 FY2025 results
Lear Corporation's Q2 FY2025 net sales held steady at $6.0B, flat y/y despite lower production volumes on Lear platforms that cut revenue by $266M, offset by $135M from new business in Asia and North/South America plus $79M from favorable FX (derived). Gross margin dipped to 7.3% from 7.5% y/y, pressured by volumes but buoyed by operational efficiencies and restructuring benefits, while diluted EPS edged up to $3.06 from $3.02 on fewer shares (54.1M vs 57.2M diluted weighted-average). Seating revenue rose 0.6% y/y to $4.5B with margins expanding to 6.4% from 6.2%, but E-Systems slipped 0.6% to $1.6B with margins contracting to 3.5% from 4.4% amid winddowns. Cash fell to $888M from $1.1B y/y, with operating cash flow at $169M for H1 (down from $257M) and FCF of -$61M (derived from $168.5M OCF minus $229.4M capex); total debt held at $2.8B with $2.0B revolver availability and no covenant issues. Closed a non-core Seating divestiture in Q1 for $36M proceeds. Yet tariffs loom large.
8-K
Lear's annual meeting results
Lear Corporation held its 2025 Annual Meeting on May 16, 2025, where shareholders elected all 11 director nominees, including Julian G. Blissett and Raymond E. Scott, with strong support exceeding 95% for most. The appointment of the independent auditors was ratified by over 96% of votes cast, while advisory approval of executive compensation passed with 98% in favor. Yet opposition to nominees like Greg C. Smith hit 4.8%. This solid backing signals investor confidence in Lear's governance.
8-K
Lear's Q1 revenue dips, margins rise
Lear Corporation reported Q1 2025 revenue of $5.6 billion, down 7% from $6.0 billion in Q1 2024, amid a 5% drop in sales-weighted global vehicle production. Yet core operating earnings held at $270 million with margins up to 4.9%, fueled by efficiency gains and restructuring savings in Seating and E-Systems. New awards topped $750 million annually, but tariff uncertainties paused 2025 guidance. Cash flow weakened to $(232) million.
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