Lear Corporation (NYSE:LEA) Q4 2023 Earnings Call Transcript

Like Jason mentioned earlier, 35% of our labor is in our trim. And we are just on one of our facilities. And in our own control, we’ve been able to automate, which has always been something that because of variability with the trim covers, we’ve done a nice job of bringing in very sophisticated innovation to automate that equipment. That’s in ours. Now accelerating that faster is another nice opportunity for us. And so we’ve been somewhat conservative on how we roll that out but those are opportunities that I think would improve the overall number as we look at it today.

Jason Cardew: And as we’ve talked about earlier, that’s one of the factors that could drive us into a different spot in the range. So at the high end of our guidance range, if we do better than anticipated, certainly, that would be an attributing factor to getting – Seating to 7% and E-Systems to 6% this year.

Emmanuel Rosner: Really helpful. Thank you.

Jason Cardew: You’re welcome.

Operator: And ladies and gentlemen, we’ll be concluding today’s question-and-answer session. I’d like to turn the floor back over to management for any closing remarks.

Ray Scott: Yes. Thanks, Matt. I’m sure everyone on the call now is just the Lear team. I just want to again thank everyone for their outstanding job in 2023. And like we always discussed so what now what? We got some challenges ahead of us this year, but we know what we need to do, and I appreciate all the great work we’re going to do this year to hit our targets and achieve them. So thank you for everybody for all your hard work.

Operator: Ladies and gentlemen, that does end today’s conference call. We do thank you for joining. You may now disconnect your lines.