Lear Q3 Report 2023

Third Quarter 2023 Highlights

• Sales increased 10% to $5.8 billion, compared to $5.2 billion in the third quarter of 2022
• Net income of $133 million and adjusted net income of $170 million, compared to $92 million and $140 million, respectively, in the third quarter of 2022
• Core operating earnings increased 14% to $267 million, compared to $235 million in the third quarter of 2022
• Earnings per share of $2.25 and adjusted earnings per share of $2.87, compared to $1.54 and $2.33, respectively, in the third quarter of 2022
• Net cash provided by operating activities of $404 million and free cash flow of $251 million, compared to $252 million and $112 million, respectively, in the third quarter of 2022
• Fifth consecutive quarter of year-over-year margin improvement in E-Systems