Adient Stock Price, News & Analysis

Adient (NYSE: ADNT) reported its Q4 2020 financial results, showing a GAAP net loss of $36 million and EPS of $(0.38), affected by non-cash charges. Adjusted EPS reached $1.15, and Adj.-EBITDA increased 33% year-over-year to $287 million despite an 8% revenue decline. The company had $1.69 billion in cash and $2.5 billion in total liquidity as of Sept 30, 2020. Total debt was $4.31 billion, with $2.62 billion net debt. Adient voluntarily repaid $103.5 million of its debt during Q4.

Adient (NYSE: ADNT) announced a delay in its Q4 fiscal 2020 earnings release due to reporting issues from a joint venture in China. The new release date is set for November 30, 2020. Despite the delay, preliminary results show expected Q4FY20 revenue of approximately $3.6B, exceeding prior guidance of $3.3B-$3.5B. Adjusted EBITDA is expected at $200M, surpassing earlier expectations of $130M-$140M. Free cash flow is anticipated to be around $450M, above earlier guidance of $300M-$400M. Adient's liquidity stands at approximately $2.5B.

Adient (NYSE: ADNT) announced a call for financial analysts on November 11, 2020 at 8:30 a.m. ET to discuss its fourth quarter fiscal 2020 financial results. The call will feature Adient's CEO Douglas Del Grosso and CFO Jeff Stafeil. Interested participants can join via telephone or through a live webcast available on the Adient Investor Relations website. The company operates over 220 plants worldwide and produces seating systems for major OEMs, delivering seating for over 23 million vehicles annually.

Adient has successfully closed the sale of its automotive fabrics manufacturing business to Sage Automotive Interiors on September 30, 2020, generating approximately $175M in cash proceeds. This move is part of Adient's strategy to focus on its core business in high-volume automotive seating. Adient, operating globally with about 80,000 employees, is committed to delivering comprehensive seating solutions for major OEMs.

Sage Automotive Interiors has successfully completed its acquisition of Adient's automotive fabric business for $175 million. The transaction, announced on March 5, 2020, received regulatory approvals, enhancing Sage's operations in Europe. Dirk Pieper, CEO of Sage, stated that this acquisition strengthens their ability to support OEMs locally and globally. With over 30 locations in 19 countries, Sage aims to expand its capabilities for automotive interior products, reinforcing its position as a leader in the industry.

Adient (NYSE: ADNT), a leader in automotive seating, is set to present at the RBC Capital Markets Industrials Conference on September 14, 2020. The company's CFO, Jeff Stafeil, will engage in a fireside chat at 3:00 p.m. Eastern time. Investors can access a live webcast of this event via the Adient investor website.

With a global workforce of around 80,000 across 34 countries and 220 manufacturing plants, Adient delivers seating solutions for over 23 million vehicles annually.

Adient reported Q3 2020 financial results, reflecting significant COVID-19 impact. The company faced a GAAP net loss of $(325)M and diluted EPS of $(3.46). Adjusted EPS was $(2.78), while Adjusted EBITDA fell to $(122)M, a $327M decrease year-over-year. Cash and cash equivalents totaled $1,032M as of June 30, 2020. Total liquidity reached ~$1.2B, suggesting some financial resilience amidst operational challenges.

Adient (NYSE: ADNT), a leader in automotive seating, will present at the J.P. Morgan 2020 Auto Conference on August 11, 2020, at 11:00 a.m. Eastern time. The company's president, Doug Del Grosso, and CFO, Jeff Stafeil, will participate in a fireside chat. A live webcast will be available on Adient's investor website, allowing stakeholders to tune in. Adient operates 220 manufacturing plants globally, producing seating for over 23 million vehicles annually.

Adient (NYSE: ADNT) will host a call for financial analysts on August 6, 2020 at 8:30 a.m. (ET) to discuss its Q3 fiscal 2020 financial results. This discussion will be led by CEO Douglas Del Grosso and CFO Jeff Stafeil. Interested parties can access the live webcast and presentation materials via the Adient Investor Relations website. Participants can join by phone, dialing either 800-779-1454 (U.S.) or 312-470-7220 (International) to connect to the conference call with the passcode ADIENT.