NYSE: LEA
LEAR CORPCIK 0000842162 · SIC 3714 · Motor Vehicle Parts & Accessories
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Q2 FY26: revenue $6.21B, net income $192.8M. Revenue +3%, operating income +8%; tariff reversals reshape H1 results
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Lear reports Q2 revenue up 3% to $6.2B, raises full-year guidance, repurchases $100M
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Latest financial statements
From 10-Q filed Jul 31, 2026 (period ending Jul 4, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Q2 ended Jul 04, 2026 | Q2 ended Jun 28, 2025 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 6,209 | 6,030 |
| Cost of revenue / cost of sales | 5,739 | 5,591 |
| Gross profit | 470.3 | 439.1 |
| Operating expenses: | ||
| Selling, general and administrative | 197.5 | 186.3 |
| Operating income | 267.9 | 248.1 |
| Interest expense | 24.2 | 25.4 |
| Income before income taxes | 240.9 | 217.5 |
| Income tax expense/(benefit) | 48.5 | 41.6 |
| Equity in earnings of affiliates | 19.3 | 16.0 |
| Net income | 211.7 | 191.9 |
| Net income attributable to shareholders | 192.8 | 165.2 |
| Basic earnings per share | 3.83 | 3.07 |
| Diluted earnings per share | 3.79 | 3.06 |
Condensed Consolidated Balance Sheets
(In millions, except share data)
| Description | July 4, 2026 (1) | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | 1,000.6 | 1,033.0 |
| Accounts receivable | 4,210.8 | 3,902.8 |
| Inventories | 1,723.9 | 1,693.2 |
| Other | 1,450.1 | 1,034.0 |
| Total current assets | 8,385.4 | 7,663.0 |
| LONG-TERM ASSETS: | ||
| Property, plant and equipment, net | 2,864.7 | 2,913.1 |
| Goodwill | 1,777.1 | 1,777.8 |
| Other | 2,623.3 | 2,489.2 |
| Total long-term assets | 7,265.1 | 7,180.1 |
| Total assets | 15,650.5 | 14,843.1 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Short-term borrowings | 28.8 | 27.9 |
| Accounts payable and drafts | 3,931.0 | 3,416.5 |
| Accrued liabilities | 2,418.4 | 2,219.0 |
| Current portion of long-term debt | 4.0 | 3.7 |
| Total current liabilities | 6,382.2 | 5,667.1 |
| LONG-TERM LIABILITIES: | ||
| Long-term debt | 2,713.4 | 2,711.5 |
| Other | 1,230.2 | 1,263.5 |
| Total long-term liabilities | 3,943.6 | 3,975.0 |
| EQUITY: | ||
| Preferred stock, 100,000,000 shares authorized (including 10,896,250 Series A convertible preferred stock); no shares outstanding | — | — |
| Common stock, $0.01 par value, 300,000,000 shares authorized; 64,571,405 shares issued as of July 4, 2026 and December 31, 2025 | 0.6 | 0.6 |
| Additional paid-in capital | 1,097.0 | 1,111.1 |
| Common stock held in treasury, 15,037,974 and 13,924,658 shares as of July 4, 2026 and December 31, 2025, respectively, at cost | (1,867.6) | (1,721.3) |
| Retained earnings | 6,473.1 | 6,189.0 |
| Accumulated other comprehensive loss | (522.4) | (544.3) |
| Lear Corporation shareholders' equity | 5,180.7 | 5,035.1 |
| Noncontrolling interests | 144.0 | 165.9 |
| Equity | 5,324.7 | 5,201.0 |
| Total liabilities and equity | 15,650.5 | 14,843.1 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Unaudited; in millions)
| Description | Six months ended July 4, 2026 | Six months ended June 28, 2025 |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Consolidated net income | 404.4 | 294.4 |
| Adjustments to reconcile consolidated net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 300.5 | 295.9 |
| Net change in recoverable customer engineering, development and tooling | (27.5) | (35.8) |
| Net change in working capital items (see below) | (74.3) | (445.9) |
| Other, net | (44.5) | 59.9 |
| Net cash provided by operating activities | 558.6 | 168.5 |
| Cash Flows from Investing Activities: | ||
| Additions to property, plant and equipment | (297.3) | (229.4) |
| Other, net | 16.2 | 39.6 |
| Net cash used in investing activities | (281.1) | (189.8) |
| Cash Flows from Financing Activities: | ||
| Repurchases of common stock | (175.0) | (47.5) |
| Dividends paid to Lear Corporation shareholders | (81.2) | (84.5) |
| Dividends paid to noncontrolling interests | (39.8) | (44.6) |
| Other, net | (24.0) | 17.2 |
| Net cash used in financing activities | (320.0) | (159.4) |
| Effect of foreign currency translation | 11.3 | 18.6 |
| Net Change in Cash, Cash Equivalents and Restricted Cash | (31.2) | (162.1) |
| Cash, Cash Equivalents and Restricted Cash as of Beginning of Period | 1,035.3 | 1,055.4 |
| Cash, Cash Equivalents and Restricted Cash as of End of Period | 1,004.1 | 893.3 |
| Changes in Working Capital Items: | ||
| Accounts receivable | (326.9) | (731.0) |
| Inventories | (40.7) | 4.5 |
| Accounts payable | 516.2 | 325.1 |
| Accrued liabilities and other | (222.9) | (44.5) |
| Net change in working capital items | (74.3) | (445.9) |
| Supplementary Disclosure: | ||
| Cash paid for interest | 55.4 | 58.5 |
| Cash paid for income taxes, net of refunds received | 137.6 | 151.9 |
Face scale: (In millions, except share data); (Unaudited; in millions). Amounts in millions USD; EPS as reported. Statements found on the EDGAR/iXBRL face print as filed; the rest are presentation-friendly mappings of filer XBRL tags. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗