10-K · February 13, 2026
Lear reported essentially flat full-year sales of $23,259.1 million in 2025 versus $23,306.0 million in 2024 while investing in automation and targeted acquisitions to support Seating and E-Systems growth. The company…
Earnings analysis · 10-Q
LEA earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
Lear Corporation's Q1 2026 earnings report shows a robust revenue increase of 5% year-over-year, attributed mostly to higher production volumes and favorable FX rates. Diluted EPS saw significant growth, rising to $3.34…
Read full summary
Lear Corporation's Q1 2026 earnings report shows a robust revenue increase of 5% year-over-year, attributed mostly to higher production volumes and favorable FX rates. Diluted EPS saw significant growth, rising to $3.34 from $1.49 in Q1 2025. The company's Seating segment continues to perform strongly, while E-Systems showed modest growth, despite pressures from selling price reductions.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.34
- Segment
- Seating
- Segment
- E-Systems
What stood out
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Strong Revenue Growth
Q1 2026 revenue increased by 5% to $5.82B from $5.56B in Q1 2025.
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Sharply Higher EPS
Diluted EPS rose to $3.34 from $1.49 in the prior year.
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Seating Segment Growth
Seating segment revenue grew 6% to $4.4B, influenced by new business and higher platform volumes.
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Improved Gross and Operating Margins
Gross margin improved to 7.7% from 6.5% while operating margin rose to 4.4% from 3.0%.
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Decrease in Working Capital Usage
Net cash provided by operating activities was $98M, reversing a cash use of $128M in Q1 2025.
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Increased Share Repurchase Activity
Lear repurchased $75M of its common stock in Q1 2026.
What to watch
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Tariff Exposure
Continued uncertainty and changes in tariffs could impact pricing and costs in 2026.
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Material Cost Volatility
Material costs as a percentage of net sales remain high at 62.8%, any further increases could impact margins.
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Geopolitical Risks
Geopolitical tensions affecting supply chains and commodity prices pose ongoing risks.
Management's outlook
Management projects a decrease in global vehicle production by about 2% in 2026.
Earlier filings 4
10-Q · May 6, 2025
Lear reported net sales of $5,560.3 million and diluted EPS of $1.49 for the quarter ended March 29, 2025. Revenue and GAAP EPS declined year-over-year, working capital absorption drove operating cash used of $127.7…
10-K · February 14, 2025
Lear positions itself as a global leader in Seating and E-Systems, pursuing growth via modular/thermal seating features and electrification-driven E-Systems, while investing in automation and targeted acquisitions.…
10-Q · October 24, 2024
Lear reported Q3 net sales of $5,584.4 million (down from $5,781.0 million a year earlier) and diluted EPS of $2.41 (up from $2.25 in the prior-year quarter). Gross margin was roughly 7.3% and operating margin ~4.0%;…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.