Lear — Jul 25, 2025 release

Second Quarter 2025 Highlights • Delivered revenue of $6.0 billion in the second quarter, in line with $6.0 billion in the second quarter of 2024 • Net income of $165 million and adjusted net income of $188 million, compared to $173 million and $206 million, respectively, in the second quarter of 2024 • Core operating earnings of $292 million, compared to $302 million in the second quarter of 2024 • Earnings per share of $3.06 and adjusted earnings per share of $3.47, compared to $3.02 and $3.60, respectively, in the second quarter of 2024 • Net cash provided by operating activities of $296 million and free cash flow of $171 million, compared to $291 million and $170 million, respectively, in the second quarter of 2024 • Cash and cash equivalents of $888 million and total liquidity of $2.9 billion at quarter end • Delivered strong operating performance in both segments, generating ≈45 basis points in Seating and ≈70 basis points in E-Systems • Restoring full year guidance with expectation for revenue of $22,470 to $23,070 million and core operating earnings of $955 to $1,095 million • Increasing total company full year net performance by ≈$25 million, while offsetting the dilutive effect on margins from tariff recoveries • Refinanced our $2 billion revolver, extending its maturity through July 2030 • Repurchased $25 million of shares and paid $41 million in dividends • Extended agreement with Palantir Technologies to continue enhancing IDEA capabilities • Awarded a conquest complete seat program in Asia with BMW and two conquest awards for seat components with Ford • Awarded conquest wire business with a global EV automaker for two key programs launching in late 2025 (more) • One ComfortMax Seat TM and two ComfortFlex TM awards, including key programs with a luxury EV automaker, combining heat, ventilation, and pneumatic lumbar and massage • Awarded complete seat programs with key Chinese domestic automakers: conquest business with FAW and new business with Leapmotor and XPeng “Lear continued its momentum from the start of the year through the second quarter, with strong operating performance driving solid margins in both business segments,” said Ray Scott, Lear’s President and CEO. “Our investments in aut