Lear Corporation (LEA) Presents at Morgan Stanley's 14th Annual Laguna Conference Transcript

Lear Corporation ( LEA ) Morgan Stanley's 14th Annual Laguna Conference September 16, 2026 12:15 PM EDT Company Participants Raymond Scott - President, CEO & Director Jason Cardew - Senior VP & CFO Jared Fedele - Vice President of Finance of Seating & E-Systems Conference Call Participants Andrew Percoco - Morgan Stanley, Research Division Presentation Andrew Percoco Morgan Stanley, Research Division All right. Good morning, everyone. For those that don't know me, I'm Andrew Percoco. I lead Autos Research here at Morgan Stanley. And up next, pleased to be joined by Ray Scott, President and CEO of Lear; Jason Cardew, CFO; and then Brian -- or Jared Fedele, sorry, Vice President of Finance of Seating and E-Systems. So thank you guys for joining this morning. Question-and-Answer Session Andrew Percoco Morgan Stanley, Research Division Maybe just to kick us off, Ray, if you want to give us a general update in terms of what you're seeing in the business, how the year has gone and kind of how you see the business transforming over time, and then we can kind of continue the conversation from there. Raymond Scott President, CEO & Director Yes. Thanks. It's great to be here, and it's hard to believe it's already middle of September. But looking back at this year, one, I couldn't be more proud of the team. We -- first half of this year was record revenue, $12 billion plus, continue to execute on our core operating income improvement and what we're doing there. EPS up 23%. So really delivering on the measurables we've put in place. And when I think about where we're at, it's been this transformation within our manufacturing processes around IDEA by Lear. We opened up the advanced manufacturing center this year, which has just been incredible for not just the investor group, but also