Lear Corporation said fourth quarter 2022 global vehicle production increased 6% with North America up 8%, Europe up 5% and China down 5%.

Sales in the fourth quarter increased 10% year on year to US$5.4bn thanks to new business in both of business segments and increased production on key platforms.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Sales growth over the market in the fourth quarter was 7%.

Operating earnings were $265m, or 4.9% of sales, compared to $158m/3.2% in Q4 2021. The increase was due to higher production, new business and “favourable operating performance” partially offset by the impact of foreign exchange.

In the seating segment, margins and adjusted margins were 6.4% and 6.8% of sales, respectively. In the E-Systems segment, margins and adjusted margins were 0.7% and 4.8% of sales.

See Also:

Adjusted net income was $167.5m versus $73.6m and adjusted earnings per share were $2.81, up from $1.22 in 2021, primarily reflecting higher operating earnings.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

For full year 2022, global vehicle production increased 7% with North America up 10%, Europe down 1% and China up 8%.

Sales rose 8% to $20.9bn or 5% over market thanks to new business.

Operating earnings were $871m, or 4.2% of sales, compared to $826m/4.3%.

Adjusted net income was $522.5m versus $479.8m and adjusted earnings per share were $8.72, up from $7.94 per share in 2021, reflecting higher operating earnings.