Overview
- Lear reported first-quarter 2026 sales of $5.8 billion, adjusted EPS of $3.87 at the highest first-quarter level since 2019, and core operating earnings of $297 million.
- Seating revenue rose 6% to $4.4 billion as the segment margin widened to 6.3% from 5.2% despite a 3% drop in global vehicle production.
- E-Systems sales held near $1.4 billion and the segment margin improved to 5.2% from 3.9% on better execution.
- Management reaffirmed full-year guidance with net sales of $23.21–$24.01 billion, core operating earnings of $1.03–$1.20 billion, and free cash flow of $550–$650 million based on a modest production decline.
- Lear cited new wins including wire harnesses for GM full-size SUVs and pickups, E-Systems programs with SAIC, Geely, and Dongfeng, a high-voltage module with Audi, and Seating awards with Audi, BMW, and Geely, while returning cash through $75 million in buybacks and $43 million in dividends.