Palantir shares slip premarket despite posting record revenue in third quarter
Investing.com - Lear Corporation (NYSE:LEA) on Friday reported third quarter earnings that slightly exceeded analyst expectations, with adjusted earnings per share of $2.79 edging past the consensus estimate of $2.78, while revenue rose 2% YoY to $5.7 billion, surpassing the $5.64 billion forecast.
The global automotive technology leader in Seating and E-Systems delivered solid operational performance despite disruptions at key customers. Core operating earnings were $241.1 million, representing a 4.2% margin, compared to $256.6 million and 4.6% margin in the same period last year.
"Lear 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.
The company generated $444 million in operating cash flow and $307 million in free cash flow during the quarter, marking the second-highest third-quarter operating cash flow in Lear’s history. Based on these results, management increased the midpoint of its full-year free cash flow outlook to $475-$525 million.
In the Seating segment, adjusted margins were 6.1% of sales, while E-Systems posted adjusted margins of 4.2%. The company continued its capital return program, repurchasing $100 million in shares and paying $41 million in dividends during the quarter.
For the full year 2025, Lear projects revenue between $22.85 billion and $23.15 billion, in line with the analyst consensus of $23 billion. The company maintained its core operating earnings guidance of $995 million to $1.055 billion.
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