10-K annual report · filed Feb 7, 2017

Lear Corp (LEA) FY2016 10-K Annual Report

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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