Lear Lifts FY23 Outlook

(RTTNews) - Lear Corporation (LEA) Tuesday lifted its 2023 financial outlook.

The company has raised its fiscal year 2023 revenue guidance to $22.35 billion - $23.05 billion from the previously expected $21.2 billion - $22.2 billion. On average, 15 analysts polled by Thomson Reuters expect revenue to be $22.63 billion.

The fiscal year 2023 adjusted net income has been raised to $620 million - $720 million from its prior outlook of $510 million - $670 million.

Lear's Thermal Comfort Systems (TCS) strategy is driving an increase in Seating target margins to a range of 8.5% to 9.0% by 2027.

Tuesday, the stock closed at $140.61, up 1.32% or $1.83 per share, at the New York Stock Exchange.