the to shows standpoint, Production currency were volumes increased U.S. the Slide XX by down decreased a exchange rates production basis. against the an compared in by production strengthened X% same both America Global X% in second on volumes Lear period for and X% X%. and key euro the both last aggregate sales quarter. From RMB. Ray. Europe vehicle and in weighted Thanks, North China, and while dollar year
Slide growth XX over market. highlights Lear's
market segments percentage X points with X For points Europe points X Land above growing Rover and from second business Rover, E-Systems in over was up Seating the above particularly was total market growth Rover at quarter, company in Range and Sport. higher percentage growing Growth with volumes benefiting market. the both Range strong points, market X over
BMW to in growth platform BMW region. the programs as and Europe. programs in Seating iX volumes negatively Porsche the conquest and strong with Renault mix impacted in as in X-Series Stellantis, the E-Systems such New Audi and contributed new several well business as Lower and seating
the volumes industry growth from all gen Motors point. partially in platform favorable sales mix segments. as the growth and Reflecting offset X systems. Seating unfavorable such Seating XX on XCXX by Seating, and backlog, platforms Mackie growth North the the Business China, Chrysler including Jeep in percentage New in as on Lear in production platforms In Lear percentage E-Systems Grand market benefited lower the Stems Challenger The driven on was and Dutch outperformed log General by lagged North business ZDX. X In platform, in volumes driven IXX Charger and build-out Wagoneer.
Lower the the and XXX Mustang both America. by America, the on such impacted HydroPro by Wagoneer new points, by and revenue of Acura BMW Conquest Volvo
customer market include revenue the points and joint flat domestic Geely ventures, for our others, and improved past improve mix further growing on from The China platform business X in growth the shift Xiaomi China. partially programs key New X will customers accelerated When as with by mix BMW China such over the automakers going the iX the our which our offset unfavorable BYD, been series and in Chinese SUX in you Seating forward. nonconsolidated to in mix year. conquest to We've quarter.
highlight a Turning XXXX. to second increase will at reached I XX. year. a our versus $X quarter financial slight last quarterly Slide for record Sales of billion, the results over
reflecting net flat of Core the platforms. new were were foreign of by $XXX positive offset lower X%, both earnings Excluding to of volume performance year there and last and compared business the were impact addition our acquisitions, up million, business and the as operating addition sales exchange, in commodities business segments. new of
a Adjusted program. to the of higher income $X.XX reflecting per our repurchase year share and compared to benefit earnings ago, $X.XX improved share net as
the million cash by compared Second Reflecting $XXX costs. higher quarter which $XXX XXXX. on $XXX million $XXX Free is was flow, was partially cash compared to million not shown million last spending, restructuring capital flow in operating year. to lower slide, cash offset
in explains in segment. adjusted billion, second sales XXXX. the and $X.X margins Seating XX in compared the quarter flat Sales operating Slide variance to the were
of were volumes Operating or $XXX the foreign roll to earnings the and compared partially business adjusted margins production operating as also key were of flat year in net the a exchange with last was Lear and Lear decrease by exchange, of the backlog. in margins platforms. XXXX on lower were of $XX sales Excluding commodities, positive lower X% addition on margin-accretive our due million, impact impact performance million foreign from platforms offset X.X%. to offset down from Adjusted by on new
an billion, the operating Sales $X.X segment. or and in explains XXXX. increase XX for $XX E-Systems variance million sales of the from the adjusted Slide quarter second X% in margins were
exchange million earnings X.X% Lear driven million operating impact sales significantly up offset commodities, partially of sales the our compared were platforms. to offset partially of platforms. Excluding margin and by strong volumes or our improved foreign and in to volumes by $XX Lear in XXXX. Adjusted margins sales backlog, of Improvement backlog, X%, performance reflected on primarily lower lower on and strong accretive net $XX by X.X%
vehicle shifting global basis volume outlook. to provides Now year form our the that currency our XX and of assumptions XXXX Slide full outlook. production
have including forecast. which customer assumptions, on production S&P and We our production estimates, several are internal global updated based schedules sources,
regarding are latest expectations our near-term most customer production forecast across assumptions modestly production Our regions, reflecting and our the market conditions. schedules key recent S&P than our lower
average our exchange of rate down estimates, currency global compares Chinese of we production also adjusted guidance our of which and guidance We've euro X% volumes. of per will midpoint an flat the assume our assumption At euro to X.X the now dollar. be prior which XXXX to RMB compared production range, an RMB exchange to industry assumes $X.XXX rate that average
include for in million changes $XX.X $XX.X $X.X $X.X outlook expected Core in the provides now revenue is to following: million. of to our the the XX to our on range operating be range of billion. expected Slide detail be XXXX. to are Key earnings
volume reductions, completed substantially price around nearly volume for have commercial with We other increases all matters fluctuations, customers. negotiations our inflation,
range usual than uncertainty wider However, negotiations year earnings timing the operating reflect with our the around customers. is of remaining core full to
are focused agreements As returns. we discussed that we negotiating in ensure sustainable earnings our call, on financial last
billion. outlook and fund million for We At will our we range customer actions are by $XX $XX for our million, to of as managing billion costs time, million continue $X.X are $X.X primarily slower of the utilization that $XXX by capacity the manufacturing capacity Operating is our expected to to to outlook new increasing costs. on cash various ramp-up and a aggressively in same utilization. vehicles flow spending result improve reduce be to restructuring capital reducing
outlook our our current to earnings. outlook core and operating prior compares XX for sales Slide
core XXXX outlook, provide the impact earnings operating volumes and in our sales of of assumptions. forecasting in additional our billion to approximately partially to in and our be beyond. operating help capacity and will resulting lower our our exchange $XXX to volumes actions including industry million midpoint down the net cost approximately performance, are outlook. align $X.X down XXXX reflecting core reduction rates and current production reflects in costs impact improvements The the April savings from volumes FX continue We offset restructuring from the our reductions outlook earnings foreign by outlook prior in lower restructuring. vehicle our These further change with of is The $XXX outlook changes billion, million from $XX.X midpoint of
XX sales core operating the Seating outlook half in second half to our results and Slide segment. our first compares earnings for actual
midpoint We America quarter in half the billion, projected North first the due downtime. actual as down Europe million are outlook results. lower to and third approximately of volumes sales forecasting customer to seasonal second from as well half in our shutdowns $X.X Reflecting $XXX be our
restructuring midpoint X.X%. the from and costs impact our labor our improve million capacity, half engineering low second platforms, of volumes income expected or loss negotiations well and lower seating associated efficiency of lower operating as costs. by and on reflects optimize commercial reduction of that savings income outlook operating as in The offset benefit $XXX partially the actions with The
expect We remainder the X% than the the of year. in compared end throughout reduce of this as to XXXX. complete and are reductions half seating to approximately drive by year savings of More headcount these already will
segment. our compares earnings results core our XX E-Systems to and in for second the sales Slide half operating first outlook half actual
midpoint increase second from of $X first sales or lower actual volumes. are million We second $XXX production outlook down of $XXX half our billion, approximately is midpoint forecasting half outlook first The be an the reflecting half approximately million our to half income operating results, results. our $X our million from actual X.X% of
volumes. despite margins to We E-Systems continue from headwinds improve in production
of We combination offset and to lower impact the actions reduced through of recoveries launch improve labor expect volumes restructuring to optimize a and engineering lower costs. efficiencies commercial capacity, costs,
of remainder and as reductions are of We plan to reduce the than to headcount XXXX. the of X% throughout More year in compared E-Systems the savings half by approximately drive these end year. complete will this already
improvements through America addition, our productivity and in In half plant in efficiencies the second the North wiring business year. continue of will
highlight will capital year. we repurchase accelerate have we The help continue XX, exceed commitment cash quarter our flow will Free shares to second is XX% reduction of throughout expected Slide what shares. worth which additional in shares count to million in XXXX. repurchased last this to to We us of repurchase enable to conversion XXXX, to growth quiet continue year. More worth of million share the repurchased stock million in $XXX Moving we than worth shareholders. our to over return $XX and Year-to-date, period. $XXX repurchased EPS
in initiating and $X.X approximately repurchased the Since of XXXX, repurchase share we repurchases shares shareholders returned billion cash and dividends. free through XX% program worth to flow have of
Our repurchase current repurchase shares authorization for $X.X through allows XXXX. has XX, which share December approximately to us many, billion
thoughts. back to turn it I'll for closing Ray some Now
