Lear Corporation (NYSE:LEA) Q4 2022 Earnings Conference Call February 2, 2023 9:00 AM ET

Company Participants

Ed Lowenfeld - VP, IR

Ray Scott - President and CEO

Jason Cardew - SVP and CFO

Conference Call Participants

Rod Lache - Wolfe Research

Mark Delaney - Goldman Sachs

John Murphy - Bank of America

James Picariello - BNP Paribas

David Kelley - Jefferies

Emmanuel Rosner - Deutsche Bank

Adam Jonas - Morgan Stanley

Operator

Good morning, everyone, and welcome to the Lear Corporation Fourth Quarter and Full-Year Earnings Conference Call. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. Please also note, today's event is being recorded.

At this time, I'd like to turn the floor over to Ed Lowenfeld, Vice President of Investor Relations. Sir, please go-ahead.

Ed Lowenfeld

Thanks, Jamie. Good morning, everyone, and thank you for joining us for Lear's fourth quarter and full-year 2022 earnings call. Presenting today are Ray Scott, Lear President and CEO, and Jason Cardew, Senior Vice President and CFO. Other members of Lear's senior management team has also joined us on the call. Following prepared remarks, we will open up the call for Q&A. You can find a copy of the presentation that accompanies these remarks at ir.lear.com.

Before Ray begins, I'd like to take this opportunity to remind you that as we conduct this call, we will be making forward-looking statements to assist you in understanding Lear's expectations for the future. As detailed in our safe harbor statement on Slide 2. Our actual results could differ materially from these forward-looking statements due to many factors discussed in our latest 10-Q and other periodic reports. I also want to remind you that during today's presentation we will refer to non-GAAP financial metrics. You are directed to the slides in the appendix of our presentation for the reconciliation of non-GAAP items to the most directly comparable GAAP measures.

The agenda for today's call is on Slide 3. First, Ray will review highlights from the year and provide a business outlook -- business update, excuse me. Jason will then review our fourth quarter financial results and our full year 2023 outlook. Finally, Ray will offer some concluding comments. Following the formal presentation, we'd be happy to take your questions.

Now I'd like to invite Ray to begin.

Ray Scott

Thanks, Ed.

Now please turn to Slide 5, which highlights key financial metrics for the fourth quarter and full year 2022. Lear finished the year strong with our best quarterly results since the first quarter of 2021 and our fifth consecutive quarter of improved adjusted operating margins.