Lear Corp (LEA) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 29, 2018

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Lear Corp
Ticker: LEA CIK: 842162

Exhibit 99.1

LOGO


FOR IMMEDIATE RELEASE

Lear Contacts:

Alicia Davis

(248) 447-1781

Joel Elsesser

(248) 447-5512

Lear Reports Third Quarter 2018 Results

SOUTHFIELD, Michigan, October 25, 2018 — Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical and electronic systems, today reported third quarter 2018 sales and earnings. Highlights include:

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Sales of $4.9 billion, compared to $5.0 billion in third quarter 2017

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Net income of $253 million and adjusted net income of $269 million, compared to $295 million and $272 million, respectively, in third quarter 2017

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Core operating earnings of $399 million, down 2% from third quarter 2017

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Core operating margin of 8.2%, flat from third quarter 2017

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Earnings per share of $3.80 and adjusted earnings per share of $4.09, up 3% from third quarter 2017

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Full year 2018 financial outlook updated to reflect current production and foreign exchange environment

“We again delivered strong sales and earnings results in the third quarter in the face of challenging macroeconomic conditions marked by significant volume declines, particularly in China and Europe, as well as foreign exchange volatility,” said Ray Scott, Lear’s president and chief executive officer. “We have continued to demonstrate our strong execution capabilities, and we remain excited about the opportunities that lie ahead. We will continue to focus on investing in profitable growth, further improving operational efficiencies and delivering superior value for our shareholders.”

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The following information was filed by Lear Corp (LEA) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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