Lear revises outlook after flat third quarter
26/10/2018
The company said this reflected lower production volumes on its key platforms, which was somewhat offset by new business in both its product segments and the sales impact of obtaining control of certain affiliates.
Sales for the Seating segment came in at just under $3.7 billion, down 3% excluding the impact of foreign exchange. Sales for the E-Systems segment were $1.2 billion, up 10% year on year.
The third-quarter results prompted Lear to revise down its financial outlook for the full year. It now expects net sales for 2018 to be between $21 billion and $21.2 billion.
This is based on global industry production assumptions of 94.1 million vehicles, which would be an increase of 1% compared to 2017.
Share this story:
