Mexican Media Brands
U.S. Drives Growth for Lear
Operating results for Lear Corp. surged 35% to $280 million in the fourth quarter last year, as 14% growth in automotive seating sales in North America hiked revenue 7% to $4.5 billion.
#economics
Share
Operating results for Lear Corp. surged 35% to $280 million in the fourth quarter last year, as 14% growth in automotive seating sales in North America hiked revenue 7% to $4.5 billion.
Net income for the period zoomed to $262 million from $73 million in September-December 2014.
Full-year sales for the Southfield, Mich.-based supplier climbed 9% to $17.7 billion, and net income soared 56% to $672 million.
Lear expects its sales this year will reach $18.5 billion-$19 billion, aided by the company's $850 million purchase of leather supplier Eagle Ottawa LLC earlier this month. The supplier forecasts adjusted net income of $720 million-$755 million in 2015.
RELATED CONTENT
-
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.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
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.