Lear Corp‘s (NYSE:LEA) fiscal first-quarter report shows revenue of $5.82 billion, up 5%, year-over-year.
Analysts expected a revenue of $5.84 billion for the quarter.
The company reported a quarterly adjusted EPS of $3.87, up 24% Y/Y, topping the analyst consensus estimate of $3.52.
Lear Corp generates most of its revenue as a Tier 1 supplier to the global automotive industry, focusing on automotive seating and electrical distribution systems (E-Systems).
Segmental Performance
Global vehicle production declined 3% in the first quarter, with North America down 2%, Europe down 1%, and China falling 10%. On a Lear sales-weighted basis, global production rose 3%, reflecting the impact of the company’s fiscal calendar.
Lear generated $5.8 billion in sales in the quarter, marking a 5% increase from a year earlier. Excluding commodities, foreign exchange, tariff recoveries, acquisitions, and divestitures, sales grew 3%, driven by …