Lear Corp gains after raising full-year outlook
27/06/2023 14:08
** Shares of automotive manufacturer Lear Corp LEA.N rise
3.05% to $143.01 in premarket trade after company raises
full-year outlook
** Market share of co's Just In Time (JIT) assembly for
automotive seat manufacturing expected to grow to 29% from 25%
by 2027, with high demand for co's thermal comfort seating
systems
** Co raises adjusted net income outlook to $620 mln to $720
mln, compared to prior forecast of $510 mln to $670 mln
** LEA also raises revenue forecast to $22.35 bln to 23.05
bln, vs prior outlook of $21.20 bln to $22.20 bln
** YTD, shares of LEA up 11.90% vs 7.07% gain in the S&P 500
Broadline Retail Index .SPLRCAUTP
(Reporting by Ananta Agarwal in Bengaluru)
((Ananta.Agarwal@thomsonreuters.com))