Reports Q4 revenue $5.37B, consensus $5.22B. "Lear continued its positive momentum, with our fifth consecutive quarter of improving adjusted operating margins," said Ray Scott, Lear’s president and CEO. "In Seating, we won significant conquest awards, and in E-Systems, we announced a new dedicated plant in Michigan to supply battery disconnect units to General Motors. Sales in both business segments once again outpaced market growth rates. And cash flow exceeded the high end of our guidance range, reflecting early benefits from our Lear Forward plan. Despite modest growth expected in 2023 production volumes, we are projecting another year of increased revenue, earnings and cash flow."
Published first on TheFly
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