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FOR IMMEDIATE RELEASE ● Lear Reports First Quarter 2021 Results SOUTHFIELD , Mich . , May 7 , 2021 -- Lear Corporation ( NYSE : LEA ) , a global automotive technology leader in Seating and E - Systems , today reported results for the first quarter 2021 . First Quarter 2021 Highlights Sales increased 20 % to $ 5.4 billion , compared to $ 4.5 billion in the first quarter of 2020 Sales growth continued to outpace the market in both segments ; E - Systems growth over market of 10 percentage points and Seating growth over market of 9 percentage points Net income of $ 204 million and adjusted net income of $ 226 million , compared to $ 76 million and $ 124 million , respectively , in the first quarter of 2020 Core operating earnings increased 64 % to $ 336 million , compared to $ 205 million in the first quarter of 2020 Earnings per share of $ 3.36 and adjusted earnings per share of $ 3.73 , compared to $ 1.26 and $ 2.05 , respectively , in the first quarter of 2020 Net cash provided by operating activities of $ 248 million and free cash flow of $ 135 million , compared to ● ● ● LEAR CORPORATION ● ● Lear Contact : Ed Lowenfeld ( 248 ) 447-4380 $ 222 million and $ 113 million , respectively , in the first quarter of 2020 Cash and cash equivalents at quarter - end of $ 1.4 billion and total available liquidity of $ 3.1 billion Lear credit rating outlook upgraded to positive by Standard & Poor's Acquired M & N Plastics to expand vertical integration capabilities in E - Systems Recognized as a finalist for an Automotive News PACE award and two PACE Pilot awards " Despite multiple challenges , including component shortages impacting industry production , the Lear team delivered strong financial results in the first quarter , " said Ray Scott , Lear's President and Chief Executive Officer . " Our leadership position in operational excellence is driving new business wins and significant growth over market in Seating and E - Systems . We continue to invest in innovation and technology to further strengthen our competitive position . As we execute our strategy , Lear is poised to benefit from a growing industry , to increase market share and earnings in both business segments , and deliver superior returns to our shareholders . " ( more )