Lear Third Quarter 2024 Earnings: EPS Beats Expectations

Lear (NYSE:LEA) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$5.58b (down 3.4% from 3Q 2023).
• Net income: US$135.8m (up 2.2% from 3Q 2023).
• Profit margin: 2.4% (up from 2.3% in 3Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$2.41 (up from US$2.26 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Lear EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.5%.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Auto Components industry in the US.

Performance of the American Auto Components industry.

The company's shares are down 7.4% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Lear you should be aware of.

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