Lear lifts buyback authorization to $1.5 billion, extends it to 2029
The auto parts supplier had about $600 million left under its prior authorization, which was due to expire at the end of 2026
Published
Lear's board has raised the company's share repurchase authorization to $1.5 billion and pushed the deadline to run through the end of 2029, three years beyond the prior expiration date of December 31, 2026. Before the increase, Lear had roughly $600 million left to spend under its previous authorization.
Non-Executive Chairman Gregory C. Smith said the size of the move reflects the board's confidence in the company's outlook and its ability to generate free cash flow, according to Lear's press release announcing the increase.
The new authorization equals about 26% of Lear's current market capitalization, according to the company's press release. That is a larger share than in February 2024, when a similar $1.5 billion authorization represented about 19% of the company's market value, a comparison that points to a lower market capitalization for Lear now than at that time.
Lear has been repurchasing shares since 2011. Through the end of the second quarter of 2026, it had bought back 63.6 million shares for a total of $6.1 billion, a reduction of about 60% in shares outstanding since the program began, according to the company. In the fourth quarter of 2025, Lear repurchased 1,632,456 shares for $175 million, according to a securities filing.