香港股市 已收市
  • 恒指

    17,809.66
    +436.63 (+2.51%)
     
  • 國指

    6,148.33
    +157.77 (+2.63%)
     
  • 上證綜指

    3,110.48
    +3.16 (+0.10%)
     
  • 滬深300

    3,689.52
    -10.98 (-0.30%)
     
  • 美元

    7.8304
    +0.0014 (+0.0184%)
     
  • 人民幣

    0.9320
    0.0000 (0.00%)
     
  • 道指

    33,447.43
    -218.91 (-0.65%)
     
  • 標普 500

    4,281.30
    -18.40 (-0.43%)
     
  • 納指

    13,198.15
    -3.12 (-0.02%)
     
  • 日圓

    0.0521
    -0.0001 (-0.11%)
     
  • 歐元

    8.2746
    +0.0032 (+0.04%)
     
  • 英鎊

    9.5480
    -0.0060 (-0.06%)
     
  • 紐約期油

    90.64
    -1.07 (-1.17%)
     
  • 金價

    1,863.60
    -15.00 (-0.80%)
     
  • Bitcoin

    26,842.03
    -216.01 (-0.80%)
     
  • CMC Crypto 200

    578.26
    -0.51 (-0.09%)
     

Lear Q2 Earnings Top Estimates, Narrows FY22 Outlook

  • Lear Corp (NYSE: LEA) reported second-quarter FY22 sales growth of 7.1% year-on-year to $5.07 billion, beating the consensus of $4.98 billion.

  • Global vehicle production decreased 1% Y/Y, with North America rising 12%, Europe shedding 5%, and China sliding 3%.

  • Net sales from North America rose 18.1% Y/Y, Europe and Africa grew 1%, Asia decreased 8.1%, and South America rose 20.8%.

  • Selling, general and administrative expenses rose 0.2% Y/Y to $171.2 million.

  • Core operating income for the quarter fell to $187.4 million, with a margin of 3.7%.

  • Lear held $828 million in cash and equivalents as of July 2, 2022. Net cash provided by operating activities in Q2 amounted to $11.4 million versus $260.1 million a year ago.

  • Adjusted EPS of $1.79 beat the analyst consensus of $1.48.

  • Outlook: Lear sees FY22 sales of $20.55 billion - $21.05 billion (prior view $20.40 billion - $21.20 billion), against the consensus of $20.88 billion.

  • It sees FY22 adjusted EBITDA of $1.405 billion - $1.505 billion (prior view $1.365 billion - $1.565 billion).

  • Price Action: LEA shares traded higher by 2.43% at $155.04 on the last check Tuesday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.