4 Aug 2022
Automotive technology company Lear Corporation has reported its second quarter 2022 financial results, showing a return to sales growth after a weak first quarter.
After sales fell by 3% year-on-year in the first quarter of the year, the company has reported growth of 7% in the second quarter to US$5.1 billion.
Lear, which owns international automotive leather maker Eagle Ottawa, achieved net income of US$69 million and adjusted net income of US$107 income in the period, compared with US$175 million and US$148 million in the same period in 2021.
Notably, during the quarter, Lear acquired Thagora Technology, a company specialising in material utilisation hardware and software technologies.
To read the rest of this story on Lear, click on ILM – Lear growth in Q2