Lear Corp LEA plans to share a detailed financial and product overview of the Seating business. Lear also announced an increase to its 2023 financial outlook.
Lear said its Thermal Comfort Systems (TCS) strategy is driving an increase in Seating target margins to a range of 8.5% to 9.0% by 2027.
LEA has raised its FY23 revenue guidance to $22.35 billion - $23.05 billion (consensus $22.63 billion) from the previously expected $21.2 billion - $22.2 billion.
LEA also raised its core operating earnings guidance to $1.01 billion - $1.14 billion from $875 million - $1.075 billion previously, Adjusted EBITDA outlook to $1.61 billion - $1.74 billion from the previous outlook of $1.475 billion - $1.675 billion.
The company now expects FY23 adjusted net income of $620 million - $720 million from $510 million - $670 million previously.
"Our unique capabilities, coupled with our world-class operations, separate us from the competition and position Lear as the undisputed leader in complete seating systems," said President and CEO Ray Scott.
Price Action: LEA shares are trading higher by 0.18% at $139.03 on the last check Tuesday.
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