On August 1 2023, LEAR CORPORATION ($NYSE:LEA) released its financial results for the quarter ending June 30 2023, displaying a year-on-year revenue growth of 18.3% to USD 5999.2 million and an impressive 146.3% increase in net income to USD 168.7 million.
On Tuesday, August 1 2023, LEAR CORPORATION reported its earnings results for the second quarter of FY2023. The company’s stock opened at $156.3 and closed at $154.4, down by 0.2% from the prior closing price of $154.8. The increase was largely driven by strong growth in the company’s automotive seating and electrical power management systems divisions. This was driven by improved efficiency and cost reduction measures implemented throughout the company.
Overall, LEAR CORPORATION reported solid results for the second quarter of FY2023, beating analysts’ estimates and increasing revenue and earnings per share year-over-year. The company’s share price declined slightly on the news, but overall investors seem to be pleased with the quarter’s results. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Lear Corporation. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lear Corporation. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lear Corporation. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
||Book Value Per Share
Key Ratios Snapshot
Some of the financial key ratios for Lear Corporation are shown below. More…
Income Statement Ratios
Balance Sheet Ratios
Cash Flow Ratios
Other Supplementary Items
|3Y Rev Growth
||3Y Operating Profit Growth
As GoodWhale, we conduct an analysis of the fundamentals of LEAR CORPORATION. Our Star Chart shows that LEAR CORPORATION is strong in asset and dividend, and medium in growth and profitability. We find that LEAR CORPORATION has a high health score of 9/10, indicating that it is capable of riding out any crisis without the risk of bankruptcy. Based on its profile, we classify LEAR CORPORATION as a ‘cheetah’ – a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors interested in this type of company may be attracted to its potential for high returns despite the inherent risks. More…
Risk Rating Analysis
Star Chart Analysis
In the automotive industry, suppliers of parts and systems are constantly vying for business from the major carmakers. Two of the biggest players in this space are Lear Corporation and Ningbo Joyson Electronic Corporation. Both companies are based in China and have a long history of supplying carmakers with everything from seats and electrical systems to instrument panels and body control modules. While Lear is the bigger company, with annual sales of around $19 billion, Ningbo Joyson is no slouch, with sales of $7.4 billion. The two companies are constantly jockeying for position in the market, with each trying to undercut the other on price while also offering better quality and more innovative products. The competition between these two companies is fierce, but it is also healthy, as it helps to keep both companies on their toes and provides carmakers with a choice of two very competent suppliers.
– Ningbo Joyson Electronic Corp ($SHSE:600699)
Ningbo Joyson Electronic Corp is a Chinese multinational automotive electronic components company headquartered in Ningbo, Zhejiang. The company has a market cap of 21.55B as of 2022 and a Return on Equity of -18.07%. The company manufactures and supplies automotive electronic components and systems for vehicles worldwide. Its products include airbags, seatbelts, steering wheels, instrument panels, door modules, and other safety-related products.
Denso Corp is a Japanese company that manufactures automotive components and systems. It has a market cap of 5.37 trillion as of 2022 and a return on equity of 5.0%. The company produces a wide range of products including engine components, electrical components, and air conditioning systems. It also provides services such as engineering, design, and testing. Denso is a leading supplier of components to the automotive industry.
Aptiv PLC is a global technology company that develops safer, greener and more connected solutions that enable the future of mobility. The company has a market cap of 22.94B as of 2022 and a Return on Equity of 4.8%. Aptiv’s products are used in a variety of vehicles, including cars, trucks, buses and trains. The company’s products are designed to make vehicles safer, more efficient and more connected.
LEAR Corporation reported impressive financial results for the second quarter of FY2023, with total revenue of USD 5999.2 million and reported net income of USD 168.7 million, representing an 18.3% and a 146.3% year-on-year increase respectively. These strong figures suggest that LEAR Corporation is performing well from an investment perspective, with further growth potential over the coming quarters. Furthermore, the consistent revenue growth over the past few years demonstrates the company’s ability to adapt to changing market conditions and its commitment to delivering value to shareholders. It appears that LEAR Corporation is well placed to continue delivering positive results in the near future.