Lear: returns to profit in Q2

(CercleFinance.com) - Lear Corp has reported Q2 2021 adjusted net income of 148 million dollars, or 2.
45 dollars per share, compared with a loss of 4.14 dollars per share a year ago, for revenues that almost doubled (+95%) to 4.8 billion dollars.

The automotive supplier says that its sales growth, which reflects a Q2 2020 comparison basis that was hit the health crisis, outperformed the market by 11%.

However, Lear says that it is reducing its outlook for 2021, only expecting revenues between 19.7 and 20.5 billion dollars, due to the impact of shortages of semiconductors and other components, as well as higher raw material costs.


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