Last $95.79 USD
Change Today +1.14 / 1.20%
Volume 589.2K
As of 8:04 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

lear corp (LEA) Snapshot

Open
$94.54
Previous Close
$94.65
Day High
$96.48
Day Low
$94.46
52 Week High
09/8/14 - $103.74
52 Week Low
02/3/14 - $71.57
Market Cap
7.6B
Average Volume 10 Days
609.0K
EPS TTM
$6.96
Shares Outstanding
79.3M
EX-Date
12/9/14
P/E TM
13.8x
Dividend
$0.80
Dividend Yield
0.84%
Current Stock Chart for LEAR CORP (LEA)

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lear corp (LEA) Details

Lear Corporation designs, manufactures, assembles, and supplies automotive seating, electrical distribution systems, and related components primarily to automotive original equipment manufacturers worldwide. It operates through two segments, Seating and Electrical. The Seating segment provides seats and related components, such as seat structures and mechanisms, seat covers, seat foam, headrests, seat frames, recliner mechanisms, and seat tracks primarily for automobiles and light trucks, compact cars, and sport utility vehicles. The Electrical segment provides electrical distribution systems for traditional powertrain vehicles, as well as for hybrid and electric vehicles. This segment’s products include wiring harnesses, terminals and connectors, junction boxes, electronic control modules, and wireless control devices; passive entry systems, remote keyless entry, and dual range/dual function remote keyless entry systems; lighting control modules; LED lighting control systems for the vehicle interior and exterior; and audio systems, such as amplifiers and vehicle sound systems. Lear Corporation was founded in 1917 and is headquartered in Southfield, Michigan.

122,300 Employees
Last Reported Date: 02/11/14
Founded in 1917

lear corp (LEA) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.2M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $683.6K
Executive Vice President and President of Sea...
Total Annual Compensation: $818.2K
Vice President
Total Annual Compensation: $427.3K
Executive Vice President of Business Developm...
Total Annual Compensation: $818.2K
Compensation as of Fiscal Year 2013.

lear corp (LEA) Key Developments

Lear Corporation Declares Quarterly Cash Dividend, Payable on December 30, 2014

Lear Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share on the company's common stock. The dividend is payable on December 30, 2014 to shareholders of record at the close of business on December 11, 2014.

Lear Corp. Announces Amended and Restated Credit Agreement to Increase Aggregate Commitments Under Revolving Credit Facility to $1.25 Billion

Lear Corporation, announced that it has amended and restated its existing credit agreement to increase aggregate commitments under its revolving credit facility to $1.25 billion and to establish a $500 million delayed draw term loan facility. Lear initiated these financing actions to increase its financial flexibility and take advantage of attractive market conditions in anticipation of the closing of its previously announced acquisition of Eagle Ottawa. The Eagle Ottawa acquisition is expected to close in the first quarter of 2015 subject to customary conditions, including regulatory approvals. The maturity of the revolving credit facility has been extended to November 14, 2019, and the term loan will mature five years from the initial funding date thereof. In addition, the amended and restated credit agreement contains revised covenants, providing Lear with greater operating flexibility than its previous credit facility. Lenders under the new credit facility include JPMorgan Chase Bank, N.A., Barclays Bank PLC, Citibank, N.A., Bank of America, N.A., Royal Bank of Canada and HSBC Bank USA, N.A.

Lear Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014; Revises Earnings Guidance for the Full Year 2014

Lear Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. The company reported net sales of $4,232.7 million against $3,917.7 million a year ago. Consolidated income before income taxes and equity in net income of affiliates was $197.7 million against $158.7 million a year ago. Net income attributable to the company was $140.1 million or $1.72 per diluted share against $112.8 million or $1.38 per diluted share a year ago. Adjusted net income attributable to the company was $156.9 million or $1.93 per diluted share against $118.5 million or $1.45 per diluted share a year ago. Free cash flow was $145.0 million against $61.4 million a year ago. Adjusted capital expenditures were $91.7 million against $102.8 million a year ago. Net cash provided by operating activities was $236.7 million against $164.2 million a year ago. Free cash flow was $61.4 million against $87.7 million a year ago. Adjusted net income attributable to the company was $118.5 million against $127.2 million a year ago. Adjusted capital expenditures were $102.8 million against $113.2 million a year ago. For the nine months the company reported net sales of $13,177.6 million against $11,977.9 million a year ago. Consolidated income before income taxes and equity in net income of affiliates was $568.4 million against $479.0 million a year ago. Net income attributable to the company was $410.6 million or $5.01 per diluted share against $358.6 million or $4.09 per diluted share a year ago. Net cash provided by operating activities was $411.7 million against $429.6 million a year ago. Free cash flow was $130.9 million against $107.5 million a year ago. Adjusted net income attributable to Lear was $482.5 million against $381.2 million a year ago. Adjusted earnings per share were $5.88 against $4.35 a year ago. Adjusted capital expenditures were $280.8 million against $322.1 million a year ago. For the full year 2014, the company sales are expected to be approximately $17.7 billion, consistent with prior guidance despite a weakening Euro. Core operating earnings are now expected to be in the range of $1,010 to $1,040 million, up from the prior range of $975 to $1,025 million. Free cash flow is expected to be approximately $450 million. Pretax income before restructuring costs and other special items is estimated to be in the range of $940 to $970 million. Tax expense, excluding the impact of restructuring costs and other special items, is expected to be in the range of $270 to $285 million. Adjusted net income attributable to Lear is expected to be in the range of $640 to $655 million. Pretax operational restructuring costs are expected to be approximately $100 million, up $10 million from the prior outlook, reflecting plant consolidations and other census related actions. The outlook for capital spending and depreciation and amortization expense is unchanged at approximately $450 million and $310 million, respectively.

 

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Industry Analysis

LEA

Industry Average

Valuation LEA Industry Range
Price/Earnings 16.3x
Price/Sales 0.4x
Price/Book 2.5x
Price/Cash Flow 14.7x
TEV/Sales 0.3x
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