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Adient (NYSE: ADNT), a leader in automotive seating, will participate in the Bank of America Global Auto Summit on April 4, 2023. Jerome Dorlack, the company's CFO, will engage in a fireside chat at 2:10 p.m. EDT, which will be webcast live on Adient's investor website. Adient operates over 200 manufacturing plants globally, employing more than 70,000 individuals. The company provides comprehensive seating solutions for major OEMs, showcasing its capabilities from research and design to engineering and manufacturing.
On February 28, 2023, Adient announced the upsize and pricing of private offerings totaling $1,000 million in senior secured and unsecured notes. This includes $500 million of 7.000% senior secured notes due 2028 and $500 million of 8.250% senior unsecured notes due 2031. The offerings increased from a previously announced $850 million. The proceeds will be used to redeem part of existing senior unsecured notes due 2024 and to prepay loans under its term loan credit facility. The offerings are set to close on March 14, 2023, and will be made in private transactions under SEC exemptions.
Adient (NYSE: ADNT) has announced its intention to offer $850 million in senior notes through its subsidiary, Adient Global Holdings Ltd. The offering will include new senior secured notes due 2028 and senior unsecured notes due 2031. The net proceeds will be used to partially redeem existing 3.50% senior unsecured notes due 2024 and to prepay loans under its term loan facility. This private offering aims to comply with relevant securities regulations. Adient remains focused on its deleveraging strategy and is subject to various market risks, including impacts from the Ukraine conflict and COVID-19 lockdowns in China.
Adient (NYSE: ADNT), a leader in automotive seating, will participate in the Wolfe Global Auto, Auto Tech, and Auto Consumer conference on February 15, 2023. Executive Vice President and CFO Jerome Dorlack, along with VP Mark Oswald, will engage in a fireside chat at 12:40 p.m. ET. A live webcast will be accessible via the Adient investor relations website.
Adient employs over 70,000 people across 30 countries, operating more than 200 manufacturing plants. They provide automotive seating solutions, serving all major OEMs and managing the seat-making process from design to manufacturing.
Adient (NYSE: ADNT) reported its Q1 2023 financial results on February 7, showing GAAP net income of
Adient (NYSE: ADNT) announced that Raymond L. Conner will not seek re-election to the board of directors at the annual general meeting on March 7, 2023. Conner has been a board member since the company's spin-off in 2016 and currently serves as Chair of the Corporate Governance Committee. His leadership has been significant, having previously held roles at The Boeing Company, including Vice Chairman. Following his departure, Adient's board will be reduced to eight directors. This change reflects the company’s ongoing governance adjustments and commitment to strategic leadership.
Adient (NYSE: ADNT) will hold a conference call on Feb. 7, 2023, at 8:30 a.m. (ET), to discuss its first quarter fiscal 2023 financial results. A live webcast and presentation materials will be accessible on the Adient Investor Relations website. Participants can join by dialing 888-455-2945 (U.S.) or 773-799-3947 (international) 15 minutes beforehand using the passcode ADIENT. Adient is a leading automotive seating manufacturer, employing over 70,000 individuals across 30 countries with over 200 manufacturing plants worldwide.
Adient (ADNT) reported Q4 2022 financial results, showing a GAAP net income of $45M and an EPS of $0.47. Adjusted EBITDA rose to $227M, marking a $109M year-over-year increase. The company has a robust liquidity position with $947M in cash as of September 30, 2022. Looking ahead, Adient projects growth in earnings, margin, and free cash flow for FY23, bolstered by a new $600M share repurchase program.
Adient (NYSE: ADNT), a leader in automotive seating, announced the appointment of Jerome Dorlack as executive vice president and chief financial officer (CFO), effective Dec. 1, 2022. Dorlack, who has extensive experience within the company, succeeds Jeff Stafeil, who is resigning on Nov. 30, 2022. Jim Conklin will take over as executive vice president, Americas, also starting Dec. 1. CEO Doug Del Grosso expressed confidence in Dorlack’s ability to drive value for stakeholders, while acknowledging Stafeil's contributions since 2016.