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 Oct 30, 2026 (period ending Oct 3, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(in millions, except per share amounts; mapped from filer XBRL tags, not printed on the filing face)
| Description | Q3 ended Oct 03, 2026 |
|---|---|
| Revenue: | |
| Total revenue / net sales | 5,773 |
| Cost of revenue / cost of sales | 5,391 |
| Gross profit | 382.3 |
| Operating expenses: | |
| Selling, general and administrative | 180.6 |
| Other operating expenses, net | 4.7 |
| Operating income | 197.0 |
| Interest expense | 20.9 |
| Income before income taxes | 172.8 |
| Income tax expense/(benefit) | 42.2 |
| Equity in earnings of affiliates | 18.9 |
| Net income | 149.5 |
| Net income attributable to shareholders | 136.6 |
| Basic earnings per share | 2.77 |
| Diluted earnings per share | 2.74 |
Condensed Consolidated Balance Sheets
(In millions, except share data)
| Description | October 3, 2026 (1) | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | 889.4 | 1,033.0 |
| Accounts receivable | 4,076.0 | 3,902.8 |
| Inventories | 1,759.8 | 1,693.2 |
| Other | 1,285.7 | 1,034.0 |
| Total current assets | 8,010.9 | 7,663.0 |
| LONG-TERM ASSETS: | ||
| Property, plant and equipment, net | 2,869.1 | 2,913.1 |
| Goodwill | 1,775.3 | 1,777.8 |
| Other | 2,612.3 | 2,489.2 |
| Total long-term assets | 7,256.7 | 7,180.1 |
| Total assets | 15,267.6 | 14,843.1 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Short-term borrowings | 29.3 | 27.9 |
| Accounts payable and drafts | 3,776.6 | 3,416.5 |
| Accrued liabilities | 2,368.5 | 2,219.0 |
| Current portion of long-term debt | 641.3 | 3.7 |
| Total current liabilities | 6,815.7 | 5,667.1 |
| LONG-TERM LIABILITIES: | ||
| Long-term debt | 2,075.4 | 2,711.5 |
| Other | 1,234.7 | 1,263.5 |
| Total long-term liabilities | 3,310.1 | 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 October 3, 2026 and December 31, 2025 | 0.6 | 0.6 |
| Additional paid-in capital | 1,106.5 | 1,111.1 |
| Common stock held in treasury, 16,379,366 and 13,924,658 shares as of October 3, 2026 and December 31, 2025, respectively, at cost | (2,040.1) | (1,721.3) |
| Retained earnings | 6,570.8 | 6,189.0 |
| Accumulated other comprehensive loss | (640.0) | (544.3) |
| Lear Corporation shareholders' equity | 4,997.8 | 5,035.1 |
| Noncontrolling interests | 144.0 | 165.9 |
| Equity | 5,141.8 | 5,201.0 |
| Total liabilities and equity | 15,267.6 | 14,843.1 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Unaudited; in millions)
| Description | Nine months ended October 3, 2026 | Nine months ended September 27, 2025 |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Consolidated net income | 553.9 | 420.8 |
| Adjustments to reconcile consolidated net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 451.9 | 448.2 |
| Net change in recoverable customer engineering, development and tooling | (63.5) | 31.7 |
| Net change in working capital items (see below) | (30.3) | (355.3) |
| Other, net | (24.1) | 67.5 |
| Net cash provided by operating activities | 887.9 | 612.9 |
| Cash Flows from Investing Activities: | ||
| Additions to property, plant and equipment | (468.2) | (366.8) |
| Other, net | 13.9 | 41.2 |
| Net cash used in investing activities | (454.3) | (325.6) |
| Cash Flows from Financing Activities: | ||
| Repurchases of common stock | (350.0) | (150.1) |
| Dividends paid to Lear Corporation shareholders | (119.2) | (125.4) |
| Dividends paid to noncontrolling interests | (81.1) | (84.2) |
| Other, net | (28.6) | 10.9 |
| Net cash used in financing activities | (578.9) | (348.8) |
| Effect of foreign currency translation | 3.1 | 20.5 |
| Net Change in Cash, Cash Equivalents and Restricted Cash | (142.2) | (41.0) |
| 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 | 893.1 | 1,014.4 |
| Changes in Working Capital Items: | ||
| Accounts receivable | (188.7) | (427.9) |
| Inventories | (86.8) | (73.6) |
| Accounts payable | 353.5 | 197.5 |
| Accrued liabilities and other | (108.3) | (51.3) |
| Net change in working capital items | (30.3) | (355.3) |
| Supplementary Disclosure: | ||
| Cash paid for interest | 78.0 | 81.4 |
| Cash paid for income taxes, net of refunds received | 201.2 | 212.9 |
Face scale: (In millions, except share data); (Unaudited; in millions). Statements found on the EDGAR/iXBRL face print as filed; the rest are presentation-friendly mappings of filer XBRL tags, at the scale noted on each table. EPS as reported. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗