Lear Extends $1.5 Billion Buyback Authorization Through 2029

Lear extended its share-repurchase authorization to $1.5 billion through 2029 and expects automation at its Orion facility to reduce conversion costs by 10% to 15%, outlining capital and efficiency plans alongside a mixed third-quarter update.

CEO Raymond Scott said, “Sales increased 2% to $5.8 billion despite global industry production declining by 2% on a Lear-weighted basis.” Adjusted earnings per share were $3.71.

Lear lowered the midpoint of its 2026 sales outlook by about $225 million, citing lower program volumes, particularly in China, and foreign-exchange effects. The company maintained its full-year core operating earnings outlook.

For 2029, Lear expects Seating to grow 3% to 4% and E-Systems to grow 4% to 6%. Its three-year core backlog is about $2.25 billion.