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Lear Corp (LEA)
NYSE:LEA
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$2.47Last Year’s EPS
$3.03Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: -9.02%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
Lear demonstrated resilience with market outperformance and growth in China despite a challenging global production environment. However, production declines and lower financial guidance pose significant challenges. The company's strategic focus on innovation and share repurchase buoyed the positive aspects of the call.Company Guidance
During Lear Corporation's Q3 2024 earnings call, the company provided comprehensive guidance on its financial performance and strategic initiatives. Lear reported $5.6 billion in revenue for the third quarter, with core operating earnings of $257 million, representing 4.6% of net sales. Adjusted earnings per share increased by 1% to $2.89, supported by a share repurchase program totaling $209 million for the quarter. The company outlined its expectations for 2024, projecting full-year revenue of approximately $23 billion and core operating earnings of around $1.07 billion. Lear's strategic focus on automation and innovation was highlighted, with investments in advanced manufacturing and restructuring actions aimed at enhancing margins and supporting long-term growth. Lear's growth with Chinese domestic automakers was emphasized, with expectations for revenue from this segment to approach 50% by 2027. The company also achieved its $325 million share repurchase target for the year, underscoring its commitment to returning capital to shareholders.Revenue and Market Outperformance
Lear delivered $5.6 billion of revenue in Q3, outperforming the market by 3 percentage points despite a challenging production environment. E-Systems and Seating segments beat the industry by 5 and 3 percentage points, respectively.
Share Repurchase and Dividend
Lear repurchased $209 million of shares and paid $43 million in dividends during the quarter. The company achieved its full-year share repurchase target of $325 million.
Growth in China
Lear's revenue from Chinese domestic automakers grew from 20% in 2021 to 30% in 2024. By 2027, this is expected to approach 50%, with revenue in China growing from $4 billion in 2021 to approximately $5 billion in 2024.
Innovation and Product Wins
Lear launched the first ComfortFlex module with Volvo and was awarded a second program with a premium European OEM. The zone control module developed by Lear's E-Systems team was named a PACE Award finalist.
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LEA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LEA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $104.17 | $97.43 | -6.47% |
| Jul 25, 2024 | $114.82 | $119.05 | +3.68% |
| Apr 30, 2024 | $134.44 | $123.31 | -8.28% |
| Feb 06, 2024 | $130.90 | $131.71 | +0.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Lear Corp (LEA) report earnings?
Lear Corp (LEA) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Lear Corp (LEA) earnings time?
Lear Corp (LEA) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LEA EPS forecast?
LEA EPS forecast for the fiscal quarter 2024 (Q4) is $2.47.
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