Lear (NYSE:LEA) Second Quarter 2024 Results
Key Financial Results
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Revenue: US$6.01b (flat on 2Q 2023).
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Net income: US$173.1m (up 2.6% from 2Q 2023).
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Profit margin: 2.9% (up from 2.8% in 2Q 2023).
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EPS: US$3.04 (up from US$2.85 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Lear EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%.
Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in the US.
Performance of the American Auto Components industry.
The company’s shares are up 1.8% from a week ago.
Valuation
Our analysis of these results suggests Lear may be undervalued based on 6 important criteria we look at. Click here to view our comprehensive analysis and gain insights into the stock’s investment prospects.
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