Mexican Media Brands
Lear Trims Outlook
Second-quarter sales and earnings fell for seating supplier Lear Corp., as vehicle production slowed in all its major markets.
#economics
Share
Second-quarter sales and earnings fell for seating supplier Lear Corp., as vehicle production slowed in all its major markets.
Revenue for the period declined 10% to $5 billion. Net income plunged 45% to $183 million. Core operating earnings fell 28% to $236 million.
The global supplier of vehicle seating lowered its full-year forecast, which assumes a continuing decline in global vehicle production. Lear now expects net sales of about $20 billion compared with its earlier forecast of more than $21 billion.
The company also anticipates its earnings before interest, taxes, depreciation and amortization will total about $1.9 billion, down from about $2.2 billion.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.