Lear Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended October 01, 2022
November 01, 2022 at 09:13 am EDT
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Lear Corporation reported earnings results for the third quarter and nine months ended October 01, 2022. For the third quarter, the company reported sales was USD 5,241.2 million compared to USD 4,268.2 million a year ago. Net income was USD 92.3 million compared to net loss of USD 26.5 million a year ago. Basic earnings per share from continuing operations was USD 1.55 compared to basic loss per share from continuing operations of USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 1.54 compared to diluted loss per share from continuing operations of USD 0.44 a year ago.
For the nine months, sales was USD 15,520.6 million compared to USD 14,383.3 million a year ago. Net income was USD 210.2 million compared to USD 352.4 million a year ago. Basic earnings per share from continuing operations was USD 3.52 compared to USD 5.86 a year ago. Diluted earnings per share from continuing operations was USD 3.5 compared to USD 5.83 a year ago.
Lear Corporation is a global automotive technology company. The Company supplies complete seat systems, key seat components, complete electrical distribution and connection systems, high-voltage power distribution products, including battery disconnect units (BDUs), low-voltage power distribution products, electronic controllers and other electronic products to automotive manufacturers. The Companyâs segments include Seating and E-Systems. Its Seating segment consists of the design, development, engineering and manufacture of complete seat systems and key seat components. Its E-Systems segment consists of the design, development, engineering and manufacture of complete electrical distribution and connection systems, high-voltage power distribution products, including BDUs, and low-voltage power distribution products, electronic controllers and other electronic products. Its software offerings include embedded control, cybersecurity software and software to control hardware devices.
LEAR CORPORATION 
