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Lear Corp - Stock Quote LEA

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Morningstar's Lear Corp Stock Analysis

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Numerous Challenges Hit Lear Q1 Results and 2022 Guidance; Slight FVE Decrease to $145

Richard Hilgert Senior Equity Analyst

Analyst Note

| Richard Hilgert |

Narrow-moat-rated Lear reported first quarter earnings per share before special items of $1.80, beating the $1.59 FactSet consensus estimate by $0.21 but dropping $1.93 from $3.73 EPS reported a year ago. Results were hit by sporadic customer production from the chip crunch, China's COVID-19 lockdowns, the Ukraine crisis, supply chain disruption, higher raw material cost, and increased logistic expense. Revenue declined 3% to $5.2 billion from $5.4 billion last year, better than consensus by 4%. The 3% decline represented a 4-percentage point outperformance over the 7% decline in global light vehicle production adjusted to Lear’s customer base.

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Lear Corp's Company Profile

Business Description

Lear designs, develops, and manufactures automotive seating and electrical systems and components. Seating components include frames and mechanisms, covers (leather and woven fabric), seat heating and cooling, foam, and headrests. Automotive electrical distribution and connection systems and electronic systems include wiring harnesses, terminals and connectors, on-board battery chargers, high voltage battery management systems, high voltage power distribution systems, domain controllers, telematics control units, gateway modules, vehicle positioning for automated and autonomous driving, embedded control software, cloud and mobile device software and services, and cybersecurity.

21557 Telegraph Road
Southfield, MI, 48033
T +1 248 447-1500
Sector Consumer Cyclical
Industry Auto Parts
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 160,100

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