Mexican Media Brands
Lear Cuts Outlook for 2019
Vehicle seating supplier Lear Corp. has cut its full-year revenue and net income forecasts by $1 billion and more than $200 million, respectively.
#economics
Share
Vehicle seating supplier Lear Corp. has cut its full-year revenue and net income forecasts by $1 billion and more than $200 million, respectively.
The Southfield, Mich.-based company blames shrinking production schedules, trade strains and a softening global economy. Lear says it no longer expects an upturn in production during the second half of the year.
The company now anticipates full-year sales will total about $20 billion, down from $21 billion. Lear predicts its adjusted net income will be between $885 million and $965 million, compared with earlier guidance of at least $1.1 billion.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
Study: Border Tax, NAFTA Exit Would Hurt U.S.
The U.S. auto industry would lose at least 31,000 manufacturing jobs and 450,000 units of annual sales if the U.S. imposes 35% tariffs on cars from Mexico, as President-elect Donald Trump has vowed to do.