Lear reports Q3 adjusted EPS $2.87, consensus $2.67

Reports Q3 revenue $5.78B, consensus $5.61B. “Lear’s positive momentum continued in the third quarter with our fifth consecutive quarter of improved year-over-year results,” said Ray Scott, Lear’s president and CEO. “Our strategy to streamline our product portfolio and improve our financial performance in E-Systems is on track, as the division reported its highest operating margins in more than two years. In Seating, we were again recognized as a leader in quality by J.D. Power, third-party validation of Lear’s strength in operational excellence. We also received our first General Motors seat ventilation award, continuing the momentum of new business wins in thermal comfort systems. I am confident that the actions we are taking to provide innovative solutions for our customers and improve operational efficiency in both business segments will support continued above market growth, increased profitability and cash flow, and significant returns for our shareholders.”