Adient reports fourth quarter and full-year 2024 financial results; provides full-year FY2025 outlook
Rhea-AI Summary
Adient (NYSE: ADNT) reported its Q4 2024 financial results, posting GAAP net income of $79M and EPS of $0.91. Q4 Adjusted-EBITDA remained flat year-over-year at $235M, with margin improving 30bps to 6.6%. The company ended FY2024 with $945M in cash and cash equivalents, gross debt of $2.4B, and net debt of $1.5B. Throughout FY2024, Adient generated $277M in free cash flow, returned $275M to shareholders through share repurchases, and reduced debt by approximately $130M. For FY2025, the company projects flat adjusted-EBITDA with business performance expected to offset lower volumes.
Positive
- Q4 GAAP net income of $79M with EPS of $0.91
- Adjusted-EBITDA margin improved 30bps to 6.6%
- Generated $277M free cash flow in FY2024
- Returned $275M to shareholders via share repurchases
- Reduced debt by ~$130M
Negative
- Flat Q4 Adjusted-EBITDA year-over-year
- Expecting lower volumes in FY2025
- High debt levels with gross debt at $2.4B
News Market Reaction – ADNT
In the trading session that priced this news, ADNT gained 2.21%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Q4 GAAP net income and EPS diluted of
$79M $0.91 $0.68 - Q4 Adj.-EBITDA of
$235M 6.6% up 30bps y-o-y - Gross debt and net debt totaled
~ and$2.4B ~ , respectively, at September 30, 2024; cash and cash equivalents of$1.5B $945M - For the full FY2024, Adient generated
$277M $275M ~ in debt$130M - Looking ahead to FY2025, Adient expects approximately flat adj.-EBITDA with business performance to offset lower volumes, driving flat to improved total margins
For complete details and to see reconciliations of non-GAAP measures to their most directly comparable GAAP measures, visit the events section of the Adient investor website at https://investors.adient.com/events-and-presentations/events to download the full press release and earnings presentation.
Investor analyst conference call:
Adient's president and chief executive officer, Jerome Dorlack, and executive vice president and chief financial officer, Mark Oswald, will host a conference call today at 8:30 a.m. Eastern to discuss the results. To participate by telephone, please dial 888-566-1827 (
About Adient:
Adient (NYSE: ADNT) is a global leader in automotive seating. With 70,000+ employees in 29 countries, Adient operates more than 200 manufacturing/assembly plants worldwide. We produce and deliver automotive seating for all major OEMs. From complete seating systems to individual components, our expertise spans every step of the automotive seat-making process. Our integrated, in-house skills allow us to take our products from research and design to engineering and manufacturing — and into millions of vehicles every year. For more information on Adient, please visit www.adient.com.
Cautionary Statement Regarding Forward-Looking Statements:
Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient's expectations for its deleveraging activities, the timing, benefits and outcomes of those activities, as well as its future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, market position, outlook, targets, guidance or goals are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient's control, that could cause Adient's actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the effects of local and national economic, credit and capital market conditions (including the persistence of high interest rates, vehicle affordability and volatile currency exchange rates) on the global economy, work stoppages, including due to strikes, supply chain disruptions and similar events, wage inflationary pressures due to labor shortages and new labor negotiations, volatile energy markets, Adient's ability and timing of customer recoveries for increased input costs, the availability of raw materials and component products (including components required by our customers for the manufacture of vehicles), geopolitical uncertainties such as the
In addition, this document includes certain projections provided by Adient with respect to the anticipated future performance of Adient's businesses. Such projections reflect various assumptions of Adient's management concerning the future performance of Adient's businesses, which may or may not prove to be correct. The actual results may vary from the anticipated results and such variations may be material. Adient does not undertake any obligation to update the projections to reflect events or circumstances or changes in expectations after the date of this document or to reflect the occurrence of subsequent events. No representations or warranties are made as to the accuracy or reasonableness of such assumptions, or the projections based thereon.
Use of Non-GAAP Financial Information:
This document also contains non-GAAP financial information because Adient's management believes it may assist investors in evaluating Adient's on-going operations. Adient believes these non-GAAP disclosures provide important supplemental information to management and investors regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. Non-GAAP measures include Adjusted EBIT, Adjusted EBITDA, Adjusted net income, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted interest expense, Free cash flow, Net debt and Net leverage. For further detail and reconciliations to their closest GAAP equivalents, please see the appendix to the earnings presentation. Reconciliations of non-GAAP measures related to FY2025 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations.
This document also contains the key performance indicator of business performance, which is defined as the difference in period-over-period Adjusted EBITDA excluding production volume/mix, equity income, foreign exchange and net commodity pricing. Management believes this key performance indicator encompasses the significant drivers of the performance of the business that are within management's ability to influence and may assist investors in evaluating Adient's on-going operations and provide important supplemental information regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider this key performance indicator as an alternative to our GAAP financial results.
ADNT-FN
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SOURCE Adient