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LEAR CORPORATION FOR IMMEDIATE RELEASE Lear Contacts : Ed Lowenfeld ( 248 ) 447-4380 Tim Brumbaugh ( 248 ) 447-1329 Lear Reports Second Quarter 2021 Results SOUTHFIELD , Mich . , August 6 , 2021 -- Lear Corporation ( NYSE : LEA ) , a global automotive technology leader in Seating and E - Systems , today reported results for the second quarter 2021 . While global vehicle production increased significantly from a year ago , industry volumes declined 9 % sequentially in the second quarter of 2021 , as compared to the first quarter of 2021. Second quarter 2020 industry production was negatively impacted by extended pandemic - related shutdowns , and second quarter 2021 industry production was impacted by component shortages , particularly those related to semiconductors . Second Quarter 2021 Highlights • . • • • • • • • Sales increased 95 % to $ 4.8 billion , compared to $ 2.4 billion in the second quarter of 2020 , reflecting total company growth over market of 11 percentage points Net income ( loss ) of $ 175 million and adjusted net income ( loss ) of $ 148 million , compared to $ ( 294 ) million and $ ( 249 ) million , respectively , in the second quarter of 2020 Core operating earnings of $ 233 million , compared to $ ( 248 ) million in the second quarter of 2020 Earnings per share of $ 2.89 and adjusted earnings per share of $ 2.45 , compared to $ ( 4.89 ) and $ ( 4.14 ) , respectively , in the second quarter of 2020 Net cash provided by ( used in ) operating activities of $ 260 million and free cash flow of $ 120 million , compared to $ ( 525 ) million and $ ( 611 ) million , respectively , in the second quarter of 2020 Cash and cash equivalents at quarter - end of $ 1.4 billion and total available liquidity of $ 3.2 billion Repurchased nearly 170,000 shares for a total of $ 31 million Received General Motors ' Supplier of the Year and Overdrive Awards Lear credit rating outlook upgraded by Moody's and Fitch " As expected , the second quarter was very challenging , given semiconductor supply issues that impacted the auto industry and led to significant production disruptions , ” said Ray Scott , Lear's President and Chief Executive Officer . “ I am especially proud of the Lear ( more )