Lear Posts Profit Gains Despite Cooling Global Auto Output

The company’s bottom line showed significant growth compared to the $108.2 million profit recorded during the same timeframe last year. Adjusted earnings reached $3.71 per share, comfortably surpassing the $3.32 consensus estimate from FactSet analysts. While net sales grew 1.6% to reach $5.77 billion, the figure fell slightly short of Wall Street expectations of $5.81 billion.

Chief Executive Ray Scott attributed the resilience to aggressive business development, highlighting new programs with Mahindra & Mahindra and an unnamed North American automaker. Despite the revenue miss, Lear remains confident in its annual trajectory. The company reaffirmed its full-year adjusted EBITDA guidance of $1.7 billion to $1.82 billion, while narrowing its net sales forecast to a range of $23.35 billion to $23.75 billion.