Lear starts strong. The US multinational specialized in interiors and technology for the auto industry has published its earnings report for the 1st quarter of 2021. The numbers show a 20% increase in sales for a total of 5.4 billion USD of revenue. To be noted: profits doubled compared to the same period of the previous year, which was made possible thanks to the recovery of demand on all markets. And, with that, sales of seats also increased.
Lear starts strong
Lear’s revenue for the first quarter of 2021 was up to 5.354 billion USD, against the 4.457 of the first quarter of 2020. Net income grew to record levels, going from 76.4 to 203.7 million USD. “Global production of vehicles in Q1 2021 grew by 14% compared to the 1st quarter of 2020”, explaines the company that estimates of closing the year with sales between 20.35 an 21.15 billion USD. Profits should set at between 1.14 and 1.3 billion.
With regards to geographical areas, sales went well all over. North America generated sales for the group equal to 2.01 billion USD, compared to the 1.88 recorded on April 4th, 2020. Europe and Africa went from 1.75 billion to 2.07, South America from 147.6 million to 180.7 million and Asia went from 676.3 million to 1.085 billion USD. With regards to product lines, revenue from seats’ sales went from 3.36 billion (1st quarter of 2020) to 3.99 billion this year.
Image taken from lear.com