NYSE$LEA
Lear Corp · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported fourth quarter and full year 2022 results and provided full year 2023 outlook.
Lear Corporation reported a 10% increase in sales to $5.4 billion for the fourth quarter of 2022, with sales growth over market of 7 percentage points. Net income was $118 million, and adjusted net income was $168 million. The company's cash flow exceeded the high end of its guidance range, reflecting early benefits from its Lear Forward plan.
- Sales increased 10% to $5.4 billion, compared to $4.9 billion in the fourth quarter of 2021.
- Sales growth over market of 7 percentage points, with E-Systems at 8 percentage points and Seating at 7 percentage points.
- Net income of $118 million and adjusted net income of $168 million, compared to $22 million and $74 million, respectively, in the fourth quarter of 2021.
- Net cash provided by operating activities of $537 million and free cash flow of $342 million, compared to $167 million and $(13) million, respectively, in the fourth quarter of 2021.
Headline financials
Revenue & EPS history
Lear · Revenue · Quarterly
$5.37B
Revenue by segment
Lear · $5.37B total across 2 segments · Q4 2022
- Seating$4.04B+10.9%75.2%
- E-Systems$1.33B+7.7%24.8%
Forward guidance
Lear provided its financial outlook for the full year 2023, assuming global industry production will be 1% higher than in 2022.
Tailwinds
- Net Sales: $21,200 - $22,200 million
- Core Operating Earnings: $875 - $1,075 million
- Adjusted EBITDA: $1,475 - $1,675 million
- Operating Cash Flow: $1,075 - $1,225 million
- Free Cash Flow: $375 - $525 million
Headwinds
- Restructuring Costs: ≈$100 million
- Capital Spending: ≈$700 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+0.3%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+0.2%
Avg return
30 days after
53%
34 / 64 earnings
Positive
+11.9%
Q1 2020
Best reaction
-9.4%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.1% | +8.2% | +12.5% | |
| Q4 2025 | +10.7% | +16.4% | +0.5% | |
| Q3 2025 | +4.5% | +5.4% | +3.7% | |
| Q1 2025 | -2.8% | +2.5% | -1.2% | |
| Q3 2024 | -6.0% | -5.1% | -6.7% | |
| Q2 2024 | +4.2% | +4.0% | +0.3% | |
| Q1 2024 | -9.4% | -7.3% | -9.8% | |
| Q4 2023 | -1.5% | +0.3% | +5.8% | |
| Q3 2023 | -1.3% | +0.1% | +3.5% | |
| Q2 2023 | -1.8% | -1.1% | -6.9% | |
| Q1 2023 | -2.5% | -4.7% | -2.6% | |
| Q4 2022 | -5.6% | -5.3% | -4.6% | |
| Q3 2022 | -7.1% | -1.6% | +1.5% | |
| Q2 2022 | +3.2% | -5.5% | -8.3% | |
| Q1 2022 | +5.8% | +0.9% | +8.9% | |
| Q4 2021 | +1.2% | -5.9% | -19.0% | |
| Q3 2021 | +1.8% | +1.1% | -0.3% | |
| Q2 2021 | -2.6% | +0.1% | -5.9% | |
| Q1 2021 | -0.8% | -6.8% | +4.8% | |
| Q4 2020 | -2.8% | +1.1% | +10.3% | |
| Q3 2020 | -1.5% | -1.1% | +17.4% | |
| Q2 2020 | +3.1% | +0.4% | +7.2% | |
| Q1 2020 | +11.9% | -0.3% | +33.5% | |
| Q4 2019 | -3.1% | -5.4% | -15.2% | |
| Q3 2019 | +1.6% | -1.6% | -2.0% | |
| Q2 2019 | -3.3% | -5.0% | -20.2% | |
| Q1 2019 | -2.3% | -2.8% | -14.2% | |
| Q4 2018 | +5.9% | +3.2% | +4.4% | |
| Q3 2018 | -6.0% | -4.8% | +0.6% | |
| Q2 2018 | -3.2% | -0.8% | -9.6% | |
| Q1 2018 | -0.1% | -0.4% | +5.4% | |
| Q4 2017 | +1.8% | +0.8% | -1.3% | |
| Q3 2017 | +1.4% | -0.9% | +1.4% | |
| Q2 2017 | +3.2% | +1.5% | -1.0% | |
| Q1 2017 | +1.2% | +1.2% | +4.7% | |
| Q4 2016 | -3.9% | -3.3% | -3.8% | |
| Q3 2016 | +6.1% | +7.6% | +13.6% | |
| Q2 2016 | -2.6% | -6.3% | -0.8% | |
| Q1 2016 | -0.6% | — | — | |
| Q4 2015 | +1.8% | — | — | |
| Q3 2015 | +1.2% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | -1.5% | — | — | |
| Q4 2014 | +3.8% | — | — | |
| Q3 2014 | +3.2% | — | — | |
| Q2 2014 | +2.9% | — | — | |
| Q1 2014 | -2.8% | — | — | |
| Q4 2013 | -6.3% | — | — | |
| Q3 2013 | +1.2% | — | — | |
| Q2 2013 | +2.6% | — | — | |
| Q1 2013 | +5.4% | — | — | |
| Q4 2012 | +0.7% | — | — | |
| Q3 2012 | +3.9% | — | — | |
| Q2 2012 | +6.0% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q4 2009 | -1.9% | — | — | |
| Q4 2011 | -1.9% | — | — | |
| Q3 2011 | -4.6% | — | — | |
| Q3 2010 | -4.6% | — | — | |
| Q2 2011 | -5.6% | — | — | |
| Q1 2011 | +4.8% | — | — | |
| Q1 2010 | +4.8% | — | — | |
| Q4 2010 | +4.8% | — | — | |
| Q2 2010 | +4.8% | — | — |
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