Lear Corporation announced on September 24, 2026, that its Board of Directors has approved an increase to the company's share repurchase authorization. The new authorization amount is $1.5 billion, which represents approximately 26% of Lear's total market capitalization at current market prices.
The Board also extended the term of the authorization to December 31, 2029. At the end of the second quarter 2026, Lear had approximately $600 million remaining on its previous authorization, which was set to expire on December 31, 2026.
Gregory C. Smith, Lear’s Non-Executive Chairman, stated that the Board’s confidence in the company’s outlook and its ability to generate free cash flow supports the increase. The Board emphasized that the capital allocation priorities are designed to maximize long-term shareholder value through organic and inorganic investments, maintaining a strong balance sheet, and returning excess cash to shareholders.
Lear may implement share repurchases under the new authorization using various methods, including open market purchases, accelerated share repurchase programs, privately negotiated transactions, and structured repurchase transactions. The company noted that share repurchases are subject to its discretion and prevailing financial, market, and industry conditions.
Since initiating its share repurchase program in 2011 through the end of the second quarter 2026, Lear has repurchased 63.6 million shares of its common stock for a total of $6.1 billion. This cumulative effort represents a reduction of approximately 60% of Lear's shares outstanding as of the commencement of the program.
