Adient Stock Price, News & Analysis

Adient (NYSE: ADNT) reported its Q2 2022 financial results, revealing a GAAP net loss of $(81M) and a diluted EPS of $(0.85). The adjusted EPS for Q2 was $(0.13, down from the previous year. Adjusted EBITDA reached $159M, a decline of $144M year-on-year. As of March 31, 2022, the company had $1,118M in cash and equivalents, with gross debt at $2.9B and net debt at $1.8B. A voluntary debt repayment of over $700M was completed in Q2, focusing on capital structure transformation amidst challenging conditions.

Adient (NYSE: ADNT), a leader in automotive seating, will conduct a financial call on May 5, 2022 at 8:30 a.m. (ET) to discuss its Q2 fiscal 2022 financial results. The call will feature CEO Douglas Del Grosso and CFO Jeff Stafeil. A live webcast and a replay will be accessible on the Adient Investor Relations website. Adient employs around 75,000 people across 33 countries, operating 208 manufacturing plants and producing seating for over 20 million vehicles annually. For further information, visit the Adient website.

Adient (NYSE: ADNT), a leader in automotive seating, announced participation in the Bank of America Global Automotive Summit on April 12, 2022. Key executives, including CFO Jeff Stafeil, will engage in a fireside chat at 11:20 a.m. Eastern time. This event highlights Adient's strategic conversations within the automotive sector. A live webcast will be accessible on their investor relations website.

Adient operates 208 plants globally, employing around 75,000 people and producing seating systems for over 20 million vehicles annually.

Adient (NYSE: ADNT), a leader in automotive seating, will present at the Wolfe Research Virtual Global Auto, Auto Tech & Mobility Conference on February 23, 2022. Executives Jeff Stafeil and Jerome Dorlack will participate in a fireside chat at 9:20 a.m. Eastern time. A live webcast of this presentation will be accessible on Adient's investor website. With around 75,000 employees across 33 countries, Adient produces automotive seating systems for over 20 million vehicles annually.

Adient (NYSE: ADNT) announced the early results of its tender offers for outstanding senior notes. In the U.S. Tender Offer, approximately $507,390,000 (84.57%) of the 2025 Notes were tendered. The company will accept all validly tendered notes and plans to amend terms significantly. Additionally, in the EUR Tender Offer, around €473,315,000 (47.33%) of 2024 Notes were tendered, leading to oversubscription. The settlement for accepted notes is expected on February 10, 2022. The Tender Offers will expire on February 23, 2022.

Adient (NYSE: ADNT) reported a Q1 2022 GAAP net loss of $(54)M and diluted EPS of $(0.57). Adjusted EPS was $(0.38), with Adj.-EBITDA at $146M, down $232M year-over-year. Cash reserves stood at $2,080M as of December 31, 2021, while gross and net debts were $3,656M and $1,576M, respectively. Post-quarter, the company initiated $800M in debt tender offers to improve its balance sheet. The financial results reflect ongoing challenges in the automotive sector, including supply chain disruptions.

Adient plc (NYSE: ADNT) announced a cash tender offer for its 9.00% Senior First Lien Notes due 2025 and a maximum aggregate principal offer for its 3.50% Senior Unsecured Notes due 2024. The offers aim to retire debt and include a consent solicitation for the 2025 Notes to amend covenants and events of default. The U.S. Issuer intends to purchase any and all 2025 Notes tendered, while the Jersey Issuer sets a maximum of €177 million for the 2024 Notes. The tender offers expire on February 23, 2022, with early tender incentives available until February 8, 2022.