Lear Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 09:05 am EDT
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Lear Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 5,781 million compared to USD 5,241.2 million a year ago. Net income was USD 132.9 million compared to USD 92.3 million a year ago. Basic earnings per share from continuing operations was USD 2.26 compared to USD 1.55 a year ago. Diluted earnings per share from continuing operations was USD 2.25 compared to USD 1.54 a year ago.
For the nine months, sales was USD 17,625.7 million compared to USD 15,520.6 million a year ago. Net income was USD 445.2 million compared to USD 210.2 million a year ago. Basic earnings per share from continuing operations was USD 7.54 compared to USD 3.52 a year ago. Diluted earnings per share from continuing operations was USD 7.5 compared to USD 3.5 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 
