Lear Corp. ( (LEA) ) has released its Q4 earnings. Here is a breakdown of the information Lear Corp. presented to its investors.
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Lear Corporation, a prominent global leader in automotive technology, specializes in Seating and E-Systems, providing innovative solutions to enhance in-vehicle experiences for consumers worldwide.
Lear Corporation has reported its fourth quarter and full-year 2024 financial results, showcasing solid performance despite industry challenges. The company highlights significant achievements in revenue, cash flow generation, and market expansion, affirming its leadership in the automotive technology sector.
In the fourth quarter of 2024, Lear generated $5.7 billion in revenue, a slight decrease from the previous year. The company reported a net income of $88 million and adjusted net income of $161 million. Core operating earnings were $258 million, while free cash flow improved to $489 million. Throughout the year, Lear launched several innovative products, including the ComfortMax Seat and the INTUTM radar technology, and secured key business contracts. For the full year, Lear’s revenue reached $23.3 billion, with net income at $507 million. The company achieved a 5% increase in adjusted earnings per share, driven by strategic investments and share repurchases.
Looking forward, Lear Corporation remains optimistic about its future prospects, aiming for continued growth and market diversification. With a strong focus on innovation and operational excellence, the company plans to enhance its automation capabilities and expand its market presence, particularly in the Chinese automotive sector. Lear’s management is committed to delivering long-term value to shareholders through strategic initiatives and capital return programs.
