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Adient plc reports developments for a global automotive seating supplier that designs, engineers and manufactures complete seat systems and individual components for major OEMs. News commonly covers quarterly results, fiscal guidance, adjusted earnings measures, debt levels, cash flow expectations and share repurchases alongside changes in vehicle production and input-cost assumptions.
Company updates also focus on seating technology and manufacturing footprint. Recent product categories include the ModuTec modular seat-build process, Sculpted Soft Trim, StepJoy foot massage, ProForce Massage Flow and Magic Trim applications. Operational news includes foam production assets and plant additions that expand Adient's automotive seating component network.
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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.
Adient (NYSE: ADNT), a leader in automotive seating, will hold a financial analysts call on Nov. 4, 2022, at 8:30 a.m. ET, to discuss its Q4 fiscal 2022 financial results. The call will be led by Adient's president, Douglas Del Grosso, and CFO, Jeff Stafeil. Interested parties can join via telephone or watch a live webcast on Adient's Investor Relations website. A replay will also be available post-call. Adient operates over 200 manufacturing plants globally, employing approximately 75,000 people, and provides seating systems for major OEMs.
Adient (NYSE: ADNT) has announced a strategic partnership with EnerTech Capital, aimed at enhancing insights into mobility technologies for future vehicles. This partnership grants Adient access to EnerTech's extensive network, including the California Mobility Center, facilitating connections with innovative automotive tech firms. According to CEO Doug Del Grosso, this collaboration will help Adient meet evolving customer needs, particularly in the realms of electric and new energy vehicles. The deal positions Adient to leverage new technologies and business models in the automotive sector.
Adient (NYSE: ADNT) reported its Q3 2022 results, showing a net loss of $(30)M and a diluted EPS of $(0.32). The adjusted EPS was $0.08, while adjusted EBITDA climbed $143M, a year-over-year increase of $25M. As of June 30, 2022, the company held $892M in cash, with total liquidity at approximately $1.7B. Adient's gross debt was about $2.7B, and net debt stood at $1.8B. The results may reflect challenges with supply chains and market pressures.
Adient (NYSE: ADNT), a leader in automotive seating, will participate in the 2022 JP Morgan Auto Conference on August 10, 2022. The company's president, Doug Del Grosso, and CFO, Jeff Stafeil, along with executive VP Jerome Dorlack, will engage in a fireside chat at 8:45 a.m. Eastern time. A live webcast of the presentation will be accessible via Adient's investor relations webpage.
With around 75,000 employees across 33 countries, Adient operates 208 plants, providing seating systems for over 20 million vehicles annually.
Adient (NYSE: ADNT), a leader in automotive seating, will hold a call for financial analysts on August 5, 2022, at 8:30 a.m. (ET) to discuss its third quarter fiscal 2022 results. The call will be led by CEO Douglas Del Grosso and CFO Jeff Stafeil. 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 prior to the call.