SOUTHFIELD, Mich., Jan. 25, 2019 -- Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical and electronic systems, today reported results for the fourth quarter and full year 2018. Highlights include:
Fourth Quarter 2018
Full Year 2018
"In the fourth quarter, global vehicle production was down 5% compared to last year, with China down 15%. Despite a more challenging macroeconomic and industry environment, we delivered solid financial results. Our performance demonstrates our strong execution capabilities and our continued investment in innovation. We are in the strongest overall financial and competitive position in our history, as evidenced by our strong backlog, and we are excited about the significant growth opportunities in front of us," said Ray Scott, Lear's President and Chief Executive Officer. "While the industry will continue to face challenges in 2019, we are well positioned with two high-performing business segments that are complementary and aligned with the key trends driving the future of the automotive industry. Our unique product capabilities and industry-leading cost structure will position us to be able to continue to deliver profitable sales growth and sustainable, long-term shareholder value."