Lear Sets Quarterly Performance Records

Seating supplier Lear Corp. posted record sales and earnings for the second quarter, propelled by increases in vehicle production in the U.S., Europe and China.

Lear's sales climbed 11% to $4.6 billion, and adjusted net income soared 26% to $174 million in April-June.

The company raised its full-year forecast range for sales 2% to $17.5 billion-$17.9 billion. It increased its operating earnings outlook 4% to $975 million-$1 billion. The company also predicts its free cash flow will multiply to $400 million-$450 million from $25 million forecast previously.