Lear Corporation saw a significantly improved set of results in the last quarter and it managed to surpass Wall Street expectations on all fronts. The improved results reflect higher production volumes as well as its strong new business backlog. Core operating earnings and sales increased and in both e-Systems and seating, operating margins improved as compared to the previous year. The company is increasing focus on sustainability and has recently announced that the fully recyclable and premium ReNewKnit sueded material of the company will be launched in door panel and seating applications. During the quarter, Lear also joined the RE100 initiative of the Climate Group by integrating its energy-efficient playbook as well as renewable energy strategy in the company. Also, in the quarter, it also launched production in its new seating assembly plant in Detroit, which supplies seats for the GMC Hammer EV pickup truck to be produced at the Factory Zero of GM. We provide the stock of Lear Corporation with a ‘Hold’ rating and a revision in the target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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