Slide 1: Second Quarter 2011 Financial Results
Second Quarter 2011 Financial Results August 4, 2011 Exhibit 99.2
Slide 2: Agenda
Agenda Company Highlights and Second Quarter 2011 Production Second Quarter 2011 Financial Results, 2011 Outlook and Sales Backlog Update Summary Q and A Session 2
Slide 3: Second Quarter 2011 Company Highlights
Strong financial and operating momentum continues Year-over-year sales up 21% and core operating earnings up 20% 8th consecutive quarter of year-over-year earnings improvement Significant improvement in Electrical margins Generated free cash flow of $121 million and increased revolving line of credi
Slide 4: Second Quarter 2011 Global Vehicle Production
Second Quarter 2011 Global Vehicle Production Source: IHS Automotive Vehicles Produced (in millions) 4
Slide 5: Second Quarter 2011 Financial Results
5 Second Quarter 2011 Financial Results
Slide 6: Second Quarter 2011 Lear Financial Summary
Global industry production down 1% reflecting parts shortages in Japan Vehicle production in North America and Europe up 1% Continued growth in BRIC markets Net sales of $3.7 billion, up 21% from a year ago Core operating earnings of $228 million, up 20% from a year ago Free cash flow of $121 millio
Slide 7: Second Quarter 2011 Reported Financials
7 Second Quarter 2011 Reported Financials* * Please see slides titled "Non-GAAP Financial Information" at the end of this presentation for further information.
Slide 8: Second Quarter 2011 Impact of Restructuring and Other Special Items
8 Second Quarter 2011 Impact of Restructuring and Other Special Items* * Please see slides titled "Non-GAAP Financial Information" at the end of this presentation for further information.
Slide 9: Second Quarter 2011 Seating Performance
Q2 2011 Q2 2010 $ 2,407.5 $ 2,859.9 $ 207.3 $ 223.4 $ 209.3 $ 225.6 (in millions) Sales Earnings** Adj. Earnings** * Please see slides titled "Non-GAAP Financial Information" at the end of this presentation for further information. 9 Adjusted Segment Margins Explanation of Year-over-Year Change Seco
Slide 10: Second Quarter 2011 Electrical Power Management Systems Performance
** Reported segment earnings represents pretax income before interest and other (income) expense. Adjusted segment earnings represents reported segment earnings adjusted for restructuring costs and other special items. * Please see slides titled "Non-GAAP Financial Information" at the end of this pr
Slide 11: Second Quarter 2011 Free Cash Flow
Second Quarter 2011 Free Cash Flow* (in millions) 11 * Please see slides titled "Non-GAAP Financial Information" at the end of this presentation for further information.
Slide 12: Cash Repatriation Update; Dividends and Share Repurchases
Cash Repatriation Update Dividends and Share Repurchases 12 (in millions) (CHART) $40 $86 $126 Share Repurchases Dividends Initiated quarterly cash dividend and share repurchase program in February 2011 Repurchased approximately 1.5 million shares during the second quarter at an average price of $49
Slide 13: Status of Lear Share Count
Status of Lear Share Count Number of Shares * Common Stock 103.9 million Warrants (^ 660,000 warrants) 1.3 million Management Shares (shares vest over 3 years based on time and performance) 2.4 million Total Shares, assuming full exercise/vesting 107.6 million Warrants Each Warrant entitles the hold
Slide 14: 2011 Outlook and Sales Backlog Update
14 2011 Outlook and Sales Backlog Update
Slide 15: Full Year 2011 Outlook: Vehicle Production, Euro and Key Commodities
Full Year 2011 Outlook Vehicle Production, Euro and Key Commodities* Sources: IHS Automotive and Company estimates Vehicle Production (in millions) * Please see slide titled "Forward-Looking Statements" at the end of this presentation for further information. 15
Slide 16: Full Year 2011 Financial Outlook
16 * Please see slides titled "Non-GAAP Financial Information" and "Forward-Looking Statements" at the end of this presentation for further information. Full Year 2011 Financial Outlook*
Slide 17: 2011 to 2013 Consolidated Sales Backlog
2011 to 2013 Consolidated Sales Backlog* 2011 - 2013 Sales Backlog 17 (in millions) (CHART) ^$2,400 ^$1,000 ^$900 ^$500 $200 $100 $ - $100 Increase from Prior Backlog * Sales backlog assumes volumes based on the most recent IHS Automotive production forecast and a Euro exchange rate of $1.40 / Euro.
Slide 18: Summary
Gear... Summary
Slide 19: Summary
Another quarter of positive financial and operating performance Sales and earnings increased faster than industry production Strong financial results in both business units Generated $121 million of free cash flow; finished quarter with $1.8 billion in cash Improved capital structure and returned ca
Slide 20: Non-GAAP Financial Information
20 Non-GAAP Financial Information In addition to the results reported in accordance with accounting principles generally accepted in the United States ("GAAP") included throughout this presentation, the Company has provided information regarding "pretax income before interest and other (income) expe
Slide 21: Non-GAAP Financial Information: Segment Earnings
21 Non-GAAP Financial Information Segment Earnings
Slide 22: Non-GAAP Financial Information: Adjusted Segment Earnings
22 Non-GAAP Financial Information Adjusted Segment Earnings
Slide 23: Forward-Looking Statements
Forward-Looking Statements 23 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated financial results and liquidity. The words "will," "may," "designed to," "outlook," "believes," "