By Adriano Marchese

Lear's first-quarter profit increased on the back of higher revenue, even as global auto production declined.

The autoparts maker on Friday posted a higher net income of $172.3 million, or $3.34 a share, compared with $80.7 million, or $1.49 a share, in the same quarter a year ago.

Adjusted earnings were $3.87 a share. According to FactSet, analysts were expecting $3.51 a share.

The increase on a per-share basis reflects higher earnings but also lower share count and a lower effective tax rate, Lear said.

Revenue rose 5% to $5.82 billion, but came in shy of forecasts of $5.84 billion.

The rise comes despite a dip in production across the auto industry. Global vehicle production was down 3% compared to a year ago, with North America down 2%, Europe down 1% and China down 10%.

Chief Executive Ray Scott credits the company's differentiated capabilities, which have continued to drive new business awards and accelerated growth with Chinese automakers.

Lear continues to expect the drag on the sector to remain throughout the year, but has maintained its guidance for the year, which includes net sales in the range of $23.21 billion to $24.01 billion and adjusted earnings before interest, taxes, depreciation and amortization of $1.03 billion to $1.2 billion.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 01, 2026 06:58 ET (10:58 GMT)

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