Lear reports Q2 adjusted EPS $3.60, consensus $3.40

Reports Q2 revenue $6.01B, consensus $6.03B. “In the second quarter, Lear grew sales to a record level and improved year-over-year margins in E-Systems for the eighth consecutive quarter,” said Ray Scott, Lear’s President and Chief Executive Officer. “We are executing our thermal comfort strategy, and, today, we are introducing ComfortFlex by Lear(TM) modular designs and the ComfortMax Seat by Lear(TM) technology. Our ComfortFlex by Lear(TM) solutions are highly efficient designs of our thermal comfort products, which improve performance through enhanced modularity and advanced manufacturing processes. The ComfortMax Seat by Lear(TM) builds on ComfortFlex by Lear(TM) by leveraging our leadership in vertical integration to deliver the most efficient, feature-packed complete seat in the industry. We continue to focus our efforts on developing innovative products and utilizing automation to extend our leadership position in operational excellence. I am confident that the actions we are taking will support continued growth in earnings, strong cash flow and significant shareholder returns.”