Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, has joined the United Nations (UN) Global Compact, the world's largest corporate responsibility initiative. The announcement further demonstrates Lear's commitment as a responsible corporate citizen that innovates and creates products that ensure comfort, well-being, convenience and safety.

Lear (LEA) suspends 2020 guidance as it expects the coronavirus pandemic's impact to strain its operations in the days to come.

Lear (LEA) delivered earnings and revenue surprises of 89.81% and 4.13%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Major U.S. auto suppliers told Michigan Governor Gretchen Whitmer they are ready to restart production and raised alarm about new delays to resuming operations. Due to the coronavirus pandemic, most auto suppliers halted operations in late March as automakers closed their factories. Now uncertainty about when Michigan will allow the resumption of operations is causing delays throughout the U.S. auto industry.

Mexican auto industry groups on Sunday urged the governor of the state of Puebla to allow a gradual restart of operations after economic activity was curbed to contain the spread of the novel coronavirus. Puebla, where Volkswagen and its luxury brand unit Audi have major plants, said on Friday conditions "do not exist" yet for the auto industry to restart activity, while carmakers with plants in other states have signalled they are being allowed to reopen. Mexico has 68,620 confirmed coronavirus infections, 2,082 of which were registered in Puebla.

Q1 2020 Lear Corp Earnings Call

General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production. GM Mexico said the assembly plants at Ramos Arizpe in the northern state of Coahuila, and Silao in the central state of Guanajuato, could restart operations on Friday depending on suppliers, and that it was assessing when to reopen plants in the central state of San Luis Potosi, and in Toluca, near Mexico City. The steps to restart production are welcome news for the North American auto sector, with supply lines highly interconnected among the United States, Mexico and Canada.

Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today reported results for the first quarter 2020.

Before we begin, I'd like to take this opportunity to remind you that as we conduct this call, we will be making forward-looking statements to assist you in understanding Lear's expectations for the future. Before I begin the formal presentation, I would like to say a few words about the current crisis.

Lear Corp. reported Friday first-quarter profit and sales that beat expectations, but declined from a year ago as the COVID-19 pandemic caused production disruptions and plant shutdowns. The maker of vehicle seats and electronic systems said net income dropped to $76.4 million, or $1.26 a share, from $228.9 million, or $3.73 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share fell to $2.05 from $4.00, but was above the FactSet consensus of $1.33. Revenue fell 13.6% to $4.46 billion, as COVID-19 shaved and estimated $900 million from revenue, but still beat the FactSet consensus of $4.22 billion. The company said it was not providing a full-year outlook given the significant uncertainty associated with the pandemic. "Our first quarter financial results were significantly impacted by production disruptions stemming from the COVID-19 pandemic," said Chief Executive Ray Scott. "We experienced plant shutdowns in China beginning in late January that were followed by shutdowns of almost all our global operations outside of China beginning in mid- to late-March." The stock, which is still inactive in premarket trading, had dropped 23.8% over the past three months, while the S&P 500 has lost 13.4%.

Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, announced today that it will hold its 2020 Annual Meeting of Stockholders (the "Annual Meeting") virtually due to public health concerns related to the COVID-19 pandemic and out of concern for the health and safety of meeting participants. The Annual Meeting will be held on May 21, 2020, at 9:00 a.m. EDT, as previously disclosed. Stockholders will not be able to attend the Annual Meeting in person.

Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases. Mexican officials in mid-May said the automotive industry could exit the coronavirus lockdown before June 1 if approved safety measures were in place. Toyota Motor Corp and Nissan Motor Co Ltd told Reuters on Monday that they were preparing to gradually resume operations, and Honda Motor Co Ltd last Friday said it had begun a gradual return to operations.

Morgan Stanley (NYSE:MS) analyst Armintas Sinkevicius maintained a Hold rating on Lear (NYSE:LEA) Corp on Monday, setting a price target of $82, which is approximately 14.10% below the present share price of $95.46.

Workers at a Lear Corp autoparts plant in northern Mexico that saw the worst known coronavirus outbreak of any factory in the Americas are now bracing to be sent back to work. For many, it's an agonizing bind after the outbreak at Lear's Rio Bravo plant that Lear said has killed 18 employees. Part of a wider international supply chain crucial to the U.S. auto sector, they are also aware that pressures from beyond Mexico may factor into the timetable.

Lear (LEA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The U.S. Labor Department said the pandemic cost 20.5 million jobs in April, pushing the unemployment rate to a post–World War II high and deepening the economic crisis, while in New York, a child died of a rare condition linked to the virus.

Lear trades 10% higher after reporting 1st-quarter results Continue reading...

Workers at a Lear Corp autoparts plant in northern Mexico that saw the worst known coronavirus outbreak of any factory in the Americas are now bracing to be sent back to work. For many, it's an agonizing bind after the outbreak at Lear's Rio Bravo plant that Lear said has killed 18 employees. Part of a wider international supply chain crucial to the U.S. auto sector, they are also aware that pressures from beyond Mexico may factor into the timetable.

Shares of Lear (NYSE:LEA) gained 5% after the company reported Q1 results.Quarterly Results Earnings per share fell 48.75% year over year to $2.05, which beat the estimate of $1.75.Revenue of $4,458,000,000 less by 13.60% from the same period last year, which beat the estimate of $4,290,000,000.Looking Ahead Earnings guidance hasn't been issued by the company for now.View more earnings on LEARevenue guidance hasn't been issued by the company for now.Conference Call Details Date: May 08, 2020Webcast URL: https://engage.vevent.com/index.jsp?eid=8281&seid=47Price Action 52-week high: $143.50Company's 52-week low was at $63.20Price action over last quarter: down 26.47%Company Profile Lear designs, develops, and manufactures automotive seating and electrical systems and components. Seating components include frames and mechanisms, covers (leather and woven fabric), foam, and headrests. Automotive electrical distribution systems and major electrical and electronic components include wiring harnesses, terminals and connectors, junction boxes, electronic control modules, wireless control devices, interior and exterior LED lighting systems, and audio systems and electronics.See more from Benzinga * Switch: Q1 Earnings Insights * Recap: Noble Energy Q1 Earnings * HMS Holdings: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

For many, it's an agonizing bind after the outbreak at Lear's Rio Bravo plant that Lear said has killed 18 employees. Part of a wider international supply chain crucial to the U.S. auto sector, they are also aware that pressures from beyond Mexico may factor into the timetable. "When the United States opens the automotive industry, we have to go back," said Dagoberto Galindo, 42, one of ten Lear employees at the Rio Bravo industrial park Reuters has interviewed since mid-April.