Short answer
Lear Corp (LEA) filed its fiscal 2016 10-K annual report with the SEC on Feb 7, 2017. It reported revenue of $18.6B and net income of $975M.
- Top risk flagged: Automotive production downturn: major-customer model concentration could reduce Lear sales and cash flows
FY2016 key financial metrics · XBRL
- Revenue
- $18.6B
- Net income
- $975M
- Operating margin
- 7.7%
- Gross margin
- 2.9%
- EPS (diluted)
- $13.33
- ROE
- 31.9%
- Operating cash flow
- $1.6B
Source: XBRL data from the Lear Corp (LEA) FY2016 10-K on SEC EDGAR. USD.
Lear Corp FY2016 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Tier 1 automotive supplier organized into Seating and E-Systems, serving global automakers with integrated vehicle systems and components
- New AccuMED acquisition added specialty-fabric processing technology and expanded non-automotive fabric scale
- Strategic emphasis on connectivity, cybersecurity, electrification and autonomous-vehicle architectures, beyond traditional components
- Workforce increased 9% to 148,400, led by Asia growth to 26,100 employees from 21,800
- 2017-2019 sales backlog reached $2.8B, up 40%, with 73% Seating and 27% E-Systems mix
Management Discussion & Analysis
- Revenue $18,557.6M, up from $18,211.4M in 2015
- Net income attributable to Lear $975.1M vs $745.5M
- Operating cash flow $1,619.3M, capex $528.3M, buybacks $3.1B, dividends $1.20 per share
Risk Factors
- Automotive production downturn: major-customer model concentration could reduce Lear sales and cash flows
- International exposure: manufacturing and distribution across Mexico, Africa, Asia, Central and South America, and Europe
- Supply-chain vulnerability: sole-source Tier 2 suppliers and customer-directed components difficult to re-source
- Labor disruption: agreements covering 78% of unionized workers scheduled to expire during 2017
- Competitive technology risk: rapid obsolescence and non-traditional entrants could pressure pricing and margins
Generated from the filing text; verify against the original. How to read a 10-K
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