Lear reports Q1 2022 net sales at USD5.20 billion, down 2.80% y/y

Despite industry challenges, Lear delivered good performance in both Seating and E-Systems segments

Lear has reported first quarter net sales at USD5.20 billion with a year-on-year (y/y) decrease of 2.80% compared to USD5.35 billion in the first quarter of 2021 for the three months ended 31 April 2022, according to a filing by the company on 3 May. Operating income was reported at USD183.7 million for the first quarter of 2022 compared to USD336.2 million in 2021. Net income was reported at USD49.4 million, compared to USD203.7 million for the first quarter of 2021.