Recap: Lear Q2 Earnings

Shares of Lear LEA were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share were up 159.18% over the past year to $2.45, which missed the estimate of $2.68.

Revenue of $4,761,000,000 up by 94.72% year over year, which missed the estimate of $4,910,000,000.

Outlook

Lear lowered its FY21 sales guidance from $20.35 billion-$21.15 billion to $19.7 billion-$20.5 billion.

The company also cut FY21 adjusted EBITDA guidance from $1.7 billion-$1.87 billion to $1.48 billion-$1.67 billion.

Details Of The Call

Date: Aug 06, 2021

Time: 08:30 AM

ET Webcast URL: https://services.choruscall.com/mediaframe/webcast.html?webcastid=SFyt7WHE

Technicals

52-week high: $204.91

Company's 52-week low was at $103.35

Price action over last quarter: down 11.14%

Company Description

Lear designs, develops, and manufactures automotive seating and electrical systems and components. Seating components include frames and mechanisms, covers (leather and woven fabric), foam, and headrests. Automotive electrical distribution systems and major electrical and electronic components include wiring harnesses, terminals and connectors, junction boxes, electronic control modules, wireless control devices, interior and exterior LED lighting systems, and audio systems and electronics.