Auto seating maker Lear Corp Q2 sales up 12%

 Highlights:

Business Conditions

In the second quarter, global vehicle production increased 3% from a year ago, including increases of 11% in China and 6% in North America.  Europe and Africa industry production was up 2% compared to a year ago.  While the European industry continues to be below trend, this was the first quarter without a year-over-year decline since the fourth quarter of 2011.

"Lear performed well in the second quarter, with sales and earnings growing faster than global industry production," said Matt Simoncini, Lear's president and chief executive officer.  "Our strong financial position allows us to strengthen and grow our business while improving our cost structure.  We plan to maintain a balanced approach of investing in the business and returning excess cash to shareholders in order to drive shareholder value." 

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Lear Corporation