Mexican Media Brands
Lear’s Adjusted Profits Up 8%
Seating and electronics supplier Lear Corp.’s adjusted net income rose 8% to $331 million in the second quarter as revenue grew 9% to $5.6 billion.
#economics #electronics
Share
Seating and electronics supplier Lear Corp.’s adjusted net income rose 8% to $331 million in the second quarter as revenue grew 9% to $5.6 billion.
The company reports that its seating sales climbed 6% to $4.3 billion. Its electronics operations gained 19% to $1.3 billion.
Lear says it has avoided the U.S. import tariffs on steel by contracting for the price of the material it needs before the end of last year. The company affirms its earlier guidance that its sales this year will be around $22 billion, compared with $20.5 billion in 2017.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.