Lear reports Q3 adjusted EPS $2.79, consensus $2.79

Reports Q3 revenue $5.68B, consensus $5.66B. “Lear (LEA) continued its solid momentum in the third quarter, delivering one of the highest third quarter operating cash flows in our history and solid operating performance across both business segments despite disruptions at key customers,” said Ray Scott, Lear’s President and CEO. “Based on the strength of these results, we are increasing the midpoint of our full-year free cash flow outlook and but for the significant lost production at a key customer, we would have further raised the midpoint of our full-year revenue and increased our full-year operating income outlook. Our strategic investments in automation, digital tools and restructuring are driving operational excellence and positioning us for sustainable margin improvement. These actions, combined with our disciplined capital allocation, enable us to repurchase shares and maintain our dividend while advancing our leadership in innovation and quality.”