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Adient plc (NYSE: ADNT), a global leader in automotive seating systems, provides investors and industry professionals with critical updates through this centralized news hub. Track official press releases, financial disclosures, and operational developments from one authoritative source.
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Fabrinet (NYSE: FN) has appointed Darlene Knight to its Board of Directors and as a member of the Audit Committee. Knight brings extensive experience in multinational manufacturing, notably in the automotive sector with Adient and Johnson Controls. Her leadership is expected to enhance Fabrinet's strategic direction. Knight aims to contribute to the company’s advancements, leveraging her background from roles at General Motors and other leading firms in the manufacturing industry.
Adient (NYSE: ADNT) will host a call for financial analysts on February 4, 2022, at 8:30 a.m. (ET), to discuss its first quarter fiscal 2022 financial results. The call will feature President and CEO Douglas Del Grosso and CFO Jeff Stafeil. Participants can access the live webcast and presentation materials on the Adient Investor Relations website. A replay will also be available. Adient is a leader in automotive seating with approximately 75,000 employees in 33 countries, operating 208 manufacturing plants globally.
Adient, a leader in automotive seating, will present at the Barclays Global Automotive and Mobility Tech Conference on November 17, 2021. The presentation will feature CEO Doug Del Grosso and CFO Jeff Stafeil in a fireside chat at 1:15 p.m. Eastern time. Investors can access a live webcast through the investor section of the Adient website. With a workforce of approximately 75,000 in 33 countries, Adient produces seating solutions for major OEMs, contributing to over 20 million vehicles annually.
Adient (NYSE: ADNT) reported its Q4 2021 results, posting a GAAP net income of $960 million or $10.02 EPS, largely due to one-time gains from a strategic transaction in China. However, adjusted EPS was $(0.24) with adjusted EBITDA at $118 million, down $169 million year-over-year. Cash and equivalents stood at $1.521 billion as of Sept. 30, 2021. Looking ahead, Adient anticipates continued pressures on earnings and cash flow due to ongoing macroeconomic challenges in the automotive industry.
Adient (NYSE: ADNT) will host a conference call on November 10, 2021, at 8:30 a.m. (ET) to discuss its fourth quarter fiscal 2021 financial results. The call will be led by Douglas Del Grosso, president and CEO, and Jeff Stafeil, executive VP and CFO. Investors can access the live webcast and presentation materials through the Adient Investor Relations website. A replay will also be available. Adient operates 202 manufacturing plants globally, employing approximately 77,000 individuals to produce automotive seating systems for major OEMs.
Adient (NYSE: ADNT) has finalized its transactions with Yanfeng Automotive Trim Systems Ltd., effectively ending their YFAS joint venture in China. The deal allows Adient to independently pursue its China strategy, which is projected to yield net proceeds of approximately $1.4 billion. Adient will increase its ownership in CQYFAS to 75% and expects annual consolidated sales of $4.5 billion in China. Pro forma adjustments suggest an annual sales increase of $700M-$800M and an EBITDA increase of $90M-$100M.
Adient (NYSE: ADNT), a leader in automotive seating, will participate in the RBC Capital Markets Global Industrials Virtual Conference on September 9, 2021. The session will feature CFO Jeff Stafeil in a fireside chat at 10:00 a.m. ET, which can be accessed via a live webcast on Adient's investor site. Adient employs around 77,000 people across 32 countries and operates 202 manufacturing plants, delivering seating solutions for major OEMs.
Adient (NYSE: ADNT), a leader in automotive seating, will participate in the 2021 JP Morgan Auto Conference on August 11, 2021, at 10:50 a.m. Eastern time. The company's president, Doug Del Grosso, and CFO, Jeff Stafeil, will engage in a fireside chat. Investors can access the live webcast on Adient's investor website (https://investors.adient.com/). Adient operates globally with around 77,000 employees and 202 manufacturing plants, producing seating for over 19 million vehicles annually.
Adient (NYSE: ADNT) has released its Q3 2021 financial results, reporting a GAAP net loss of $71 million, or $(0.75) per share, with an adjusted EPS of $(0.53). The company's adjusted EBITDA stood at $118 million, reflecting a year-over-year increase of $240 million, with a margin of 3.6%. As of June 30, 2021, Adient reported cash and cash equivalents of $1.0 billion, while gross debt totaled $3.757 billion. The announcement highlighted macroeconomic headwinds impacting revenue and earnings expectations for FY21.
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