Lear CEO optimistic for future after record results - leatherbiz: Lead Leatherbiz

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Lear CEO optimistic for future after record results

27/04/2017
Automotive seating supplier Lear Corporation reported sales of $5 billion in the first quarter of 2017, a 7% improvement compared to the same period of last year.

The company achieved net income of $305.8 million from this revenue, an increase of 23% year-on-year.

Net sales for Lear’s seating segment were $3.87 billion, which also represented a 7% jump compared to the first quarter of 2016. 

"We have a record sales backlog that will provide continued profitable sales growth and superior shareholder returns,” said Matt Simoncini, Lear president and CEO. “This year, we celebrate our 100th anniversary, and the Company has never been in a stronger competitive position. I have never been more optimistic about our future."

Related stories:

New Lear chief executive celebrates record quarter 27/04/2018
Simoncini to leave Lear in 'strongest position in its history' 30/01/2018
Lear to undergo leadership transition in 2018 21/11/2017
Lear expects drop in vehicle production in North America 27/10/2017
Lear breaks ground on new Asia HQ 11/05/2017
Lear finalises automotive seating acquisition 02/05/2017
Lear strengthens with automotive seating acquisition 07/02/2017
2016 was a record year for Lear 27/01/2017
IULTCS names winner of Young Leather Scientist grant 19/12/2016
Lear stimulates creative seat design ideas 05/12/2016
Lear inaugurates seat cover plant in Macedonia 08/11/2016
Smart investments boost Lear sales 27/10/2016
Lear opens innovation centre in Detroit 21/10/2016

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