Lear Corporation (NYSE:LEA) spotted trading -29.36% off 52-week high price. On the other end, the stock has been noted 60.40% away from the low price over the last 52-weeks. The stock changed 9.32% to recent value of $101.37. The stock transacted 1147468 shares during most recent day however it has an average volume of 803.41K shares. The company has 62.90M of outstanding shares and 59.44M shares were floated in the market.
On May 08, 2020, Lear Corporation (NYSE:LEA) a global automotive technology leader in Seating and E-Systems, released results for the first quarter 2020.
First Quarter 2020 Highlights
- Sales of $4.5 billion, compared to $5.2 billion in the first quarter of 2019
- Net income of $76 million and adjusted net income of $124 million, compared to $229 million and $253 million, respectively, in the prior year
- Core operating earnings of $205 million, compared to $378 million in the first quarter of 2019
- Estimated negative impact of COVID-19 on Lear’s sales and core operating earnings in the first quarter of 2020 was approximately $900 million and $200 million, respectively
- Earnings per share of $1.26 and adjusted earnings per share of $2.05, compared to $3.73 and $4.00, respectively, in the first quarter of 2019
- Net cash provided by operating activities of $222 million and free cash flow of $113 million, compared to $52 million and $(71) million, respectively, in the first quarter of 2019
- Cash and cash equivalents at quarter end of $2.45 billion and total available liquidity of $3.2 billion; cash balance reflects $1 billion draw on revolving credit facility
- Refinanced $650 million aggregate principal amount of 2025 senior notes through the issuance of new senior notes due in 2030 and additional senior notes due in 2049
- Extended maturity of $1.75 billion revolving credit facility to August 2024
- Adjusted capacity at certain plants to produce personal protective equipment for donations to hospitals and first responders, as well as for internal use
The COVID-19 pandemic has taken a tremendous toll on people around the globe, and Lear’s deepest sympathies go out to all those who have been impacted by this crisis. I am proud that Lear has been at the forefront in supporting pandemic relief efforts through the manufacture and donation of masks and other personal protective equipment to hospital staff and first responders. We will continue to lend our support to communities in need as this humanitarian crisis unfolds.
Its earnings per share (EPS) expected to touch remained -29.60% for this year while earning per share for the next 5-years is expected to reach at -2.14%. LEA has a gross margin of 9.60% and an operating margin of 5.30% while its profit margin remained 3.80% for the last 12 months.
According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 13.12% from the mean of 20 days, 12.55% from mean of 50 days SMA and performed -11.81% from mean of 200 days price. Company’s performance for the week was 9.54%, 13.78% for month and YTD performance remained -26.12%.