First-quarter sales reached US$5.8 billion, up 5% year-on-year, while adjusted earnings per share rose 24% to US$3.87. This marks the company’s highest quarterly adjusted EPS since 2019. Net income increased to US$172 million, compared to US$81 million in the first quarter of 2025, and core operating earnings rose 10% to US$297 million.
Operating cash flow totalled US$98 million during the quarter, with free cash flow improving to negative US$27 million from a negative US$232 million a year earlier. Lear also repurchased US$75 million of shares and paid US$43 million in dividends.
Operationally, Lear secured new E-Systems awards with General Motors, SAIC Motor, Geely, Dongfeng Motor Corporation and Audi, while also expanding its Seating business through new programme wins with Toyota, Audi, BMW and Geely.
Looking ahead, Lear reaffirmed its 2026 outlook, forecasting net sales of US$23.2–24.0 billion and free cash flow of US$550–650 million. The company noted its outlook excludes any future impact from potential tariff changes or industry-wide production disruptions.
