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Adient swings to $47M Q4 loss as sales rise

Full-year operating cash flow was $533 million versus $449 million, while fourth-quarter free cash flow was $61 million.

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8-K

Rhea-AI Filing Summary

Adient plc reported fourth-quarter and fiscal 2026 results for the year ended September 30, 2026. Net sales were $3.730 billion in Q4, versus $3.688 billion a year earlier, and $15.168 billion for FY2026, versus $14.535 billion. Adient-attributable net loss was $47 million in Q4, compared with $18 million of net income, and $17 million for FY2026, compared with a $281 million loss. Adjusted EBITDA, a non-GAAP measure, was $229 million for Q4 and $884 million for FY2026, compared with $226 million and $881 million, respectively.

Operating cash flow was $167 million in Q4 and $533 million for FY2026, compared with $213 million and $449 million. Free cash flow was $61 million and $222 million, respectively, versus $134 million and $204 million; full-year figures exclude dividends paid to noncontrolling interests of $92 million in 2026 and $90 million in 2025. At September 30, 2026, cash was $886 million, total debt was $2.352 billion and net debt was $1.466 billion. Adjusted diluted EPS was $0.52 for Q4 and $1.87 for FY2026, compared with $0.52 and $1.93 a year earlier.

2 points · 0 major

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0 major · 3 points

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Positive

  • Moderate pointAdient-attributable annual loss narrowed to $17 million from $281 million.
  • Moderate pointAnnual operating cash flow reached $533 million, versus $449 million.

Negative

  • Moderate pointFourth-quarter operating cash flow was $167 million, versus $213 million.
  • Moderate pointAdient reported a $47 million fourth-quarter attributable loss, versus $18 million income.
  • Moderate pointAdjusted net income attributable to Adient was $147 million, down from $161 million.

Filing Explained

Adient reports share repurchases in FY2026 and lower shares outstanding at September 30, 2026, versus a year earlier. For a holder whose share count is unchanged, the lower total means a larger ownership fraction.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Net sales $3.730 billion Three months ended September 30, 2026; $3.688 billion in 2025
Net sales $15.168 billion Twelve months ended September 30, 2026; $14.535 billion in 2025
Net loss attributable to Adient Loss of $47 million Three months ended September 30, 2026; $18 million net income in 2025
Net loss attributable to Adient Loss of $17 million Twelve months ended September 30, 2026; loss of $281 million in 2025
Adjusted EBITDA $884 million Twelve months ended September 30, 2026; $881 million in 2025
Operating cash flow $533 million Twelve months ended September 30, 2026; $449 million in 2025
Free cash flow $222 million Twelve months ended September 30, 2026; $204 million in 2025
Adjusted net income attributable to Adient $147 million Twelve months ended September 30, 2026; $161 million in 2025
Adjusted EBITDA financial
"Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and equity based compensation."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
free cash flow financial
"Free cash flow is defined as cash provided by operating activities less capital expenditures."
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
net leverage ratio financial
"Net leverage ratio is calculated as net debt divided by adjusted EBITDA for the last four quarters."
The net leverage ratio measures how much debt a company has compared to its available assets or earnings, after accounting for its cash and liquid assets. It helps investors understand how heavily a company relies on borrowed money to finance its operations and growth. A higher ratio indicates greater financial risk, while a lower ratio suggests a more cautious approach to borrowing.
redeemable noncontrolling interests financial
"Redeemable noncontrolling interests"
A redeemable noncontrolling interest is a minority ownership stake in a company that the holder can force the company to buy back at a set price or under certain conditions. For investors this matters because it creates a future cash obligation and can be treated more like a liability than permanent equity, affecting a company’s reported debt, net income and valuation — think of it as a part-owner who can cash out, forcing the business to pay them.
Fourth-quarter net sales $3.730 billion versus $3.688 billion in the fourth quarter of 2025
Fiscal-year net sales $15.168 billion versus $14.535 billion in fiscal 2025
Fourth-quarter net income (loss) attributable to Adient Loss of $47 million versus $18 million of income in the fourth quarter of 2025
Fiscal-year net income (loss) attributable to Adient Loss of $17 million versus a $281 million loss in fiscal 2025
Fiscal-year operating cash flow $533 million versus $449 million in fiscal 2025
Fiscal-year free cash flow $222 million versus $204 million in fiscal 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was ADNT's free cash flow in fiscal 2026?
Adient reported free cash flow of $222 million for the twelve months ended September 30, 2026, compared with $204 million in fiscal 2025. The full-year figures exclude dividends paid to noncontrolling interests of $92 million in 2026 and $90 million in 2025.

Which ADNT segment reported the most adjusted EBITDA in fiscal 2026?
Asia reported adjusted EBITDA of $450 million for the twelve months ended September 30, 2026, compared with $399 million for Americas and $125 million for EMEA. Adient defines adjusted EBITDA as adjusted EBIT excluding depreciation and equity-based compensation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0001670541FALSE00016705412026-11-042026-11-04

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): November 4, 2026

ADIENT PLC
(Exact name of registrant as specified in its charter)

Ireland001-3775798-1328821
(State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification Number)
 25 North Wall Quay
Dublin 1, Ireland D01 H104
(Address of principal executive offices)

Registrant’s telephone number, including area code: 734-254-5000

Not applicable
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of classTrading symbol(s)Name of exchange on which registered
Ordinary Shares, par value $0.001ADNTNew York Stock Exchange


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17     CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐









































Item 2.02 Results of Operations and Financial Condition.

On November 4, 2026, Adient plc (the “Company”) issued a news release announcing its financial results for the fourth quarter and fiscal year ended September 30, 2026. The news release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information contained in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
EXHIBIT INDEX
Exhibit No.Exhibit Description
99.1
Adient plc News Release dated November 4, 2026
104
Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document).




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ADIENT PLC
Date: November 4, 2026
By:/s/ Heather M. Tiltmann
Name:Heather M. Tiltmann
Title:
Executive Vice President, Chief Legal and Human Resources Officer, and Corporate Secretary


Exhibit 99.1
q4fy26-earningsinfographica.jpg



q4fy26-earningsinfographicb.jpg



q4fy26-earningsinfographicc.jpg


q4fy26-earningsinfographic.jpg

Appendix
Page 1

Adient plc
Condensed Consolidated Statements of Income (Loss)
(Unaudited)
Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions, except per share data)2026202520262025
Net sales$3,730 $3,688 $15,168 $14,535 
Cost of sales3,481 3,441 14,210 13,574 
Gross profit249 247 958 961 
Selling, general and administrative expenses151 124 555 522 
Restructuring and impairment costs74 11 108 392 
Equity income 20 8 80 68 
Earnings before interest and income taxes44 120 375 115 
Net financing charges62 49 206 193 
Other pension expense (income)(16)7 (11)10 
Income (loss) before income taxes(2)64 180 (88)
Income tax expense18 26 115 103 
Net income (loss)(20)38 65 (191)
Income attributable to noncontrolling interests27 20 82 90 
Net income (loss) attributable to Adient$(47)$18 $(17)$(281)
Diluted earnings (loss) per share$(0.62)$0.22 $(0.22)$(3.39)
Shares outstanding at period end74.8 79.2 74.8 79.2 
Diluted weighted average shares76.1 81.3 77.8 83.0 



Appendix
Page 2

Adient plc
Condensed Consolidated Statements of Financial Position
(Unaudited)

September 30,
(in millions)20262025
Assets
Cash and cash equivalents$886 $958 
Accounts receivable - net
1,975 1,873 
Inventories690 695 
Other current assets495 607 
Current assets4,046 4,133 
Property, plant and equipment - net1,401 1,409 
Goodwill1,808 1,807 
Other intangible assets - net290 319 
Investments in partially-owned affiliates267 276 
Assets held for sale20 9 
Other noncurrent assets986 1,001 
Total assets$8,818 $8,954 
Liabilities and Shareholders' Equity
Short-term debt$14 $11 
Accounts payable and accrued expenses3,058 2,942 
Other current liabilities656 734 
Current liabilities3,728 3,687 
Long-term debt2,338 2,386 
Other noncurrent liabilities737 723 
Redeemable noncontrolling interests88 95 
Shareholders' equity attributable to Adient1,634 1,766 
Noncontrolling interests293 297 
Total liabilities and shareholders' equity$8,818 $8,954 



Appendix
Page 3

Adient plc
Condensed Consolidated Statements of Cash Flows
(Unaudited)

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Operating Activities
Net income (loss) attributable to Adient$(47)$18 $(17)$(281)
Income attributable to noncontrolling interests27 20 82 90 
Net income (loss)(20)38 65 (191)
Adjustments to reconcile net income (loss) to cash provided (used) by operating activities:
Depreciation75 72 286 279 
Amortization of intangibles12 11 47 46 
Pension and postretirement benefit expense (income)(9)9 1 16 
Pension and postretirement contributions, net(2)(3)(18)(18)
Equity in earnings of partially-owned affiliates, net of dividends received11 20 29 36 
Gain on sale / impairment of nonconsolidated partially owned affiliate— — — (4)
Premium paid on repurchase of debt10 — 10 — 
Deferred income taxes2 (29)(14)(28)
Non-cash impairment charge— (2)— 341 
Equity-based compensation8 12 34 32 
Other4 (12)7 (15)
Changes in assets and liabilities:
Receivables(85)(49)(140)31 
Inventories37 31 (4)75 
Other assets143 16 180 (121)
Accounts payable and accrued liabilities(13)65 47 (69)
Accrued income taxes(6)34 3 39 
Cash provided by operating activities167 213 533 449 
Investing Activities
Capital expenditures(106)(79)(311)(245)
Sale of property, plant and equipment— 18 8 34 
Settlement of derivatives— — 3 — 
Acquisition of businesses, net of cash acquired(7)— (11)— 
Business divestitures— — — 27 
Changes in long-term investments— — (6)(3)
Other— 2 (1)1 
Cash used by investing activities(113)(59)(318)(186)
Financing Activities
Drawdown of ABL revolver and other bank borrowings— 2 153 2 
Repayment of ABL revolver and other bank borrowings— — (155)(1)
Issuance of long-term debt500 — 500 795 
Repayment of long-term debt, including premium paid(549)(2)(556)(803)
Debt financing costs(5)— (12)(13)
Share repurchases(45)(50)(100)(125)
Cash paid to acquire a noncontrolling interest— — — (28)
Dividends paid to noncontrolling interests(5)(4)(92)(90)
Other— (1)(5)(4)
Cash used by financing activities(104)(55)(267)(267)
Effect of exchange rate changes on cash and cash equivalents12 (1)(20)17 
Increase (decrease) in cash and cash equivalents$(38)$98 $(72)$13 


Appendix
Page 4

Footnotes
1. Segment Results

Adient manages its business on a geographic basis and operates in the following three reportable segments for financial reporting purposes: 1) Americas, which is inclusive of North America and South America; 2) Europe, the Middle East and Africa ("EMEA") and 3) Asia Pacific/China ("Asia").

Adient evaluates the performance of its reportable segments using an adjusted EBITDA metric defined as income (loss) before income taxes and noncontrolling interests, excluding net financing charges, restructuring and impairment costs, restructuring related-costs, net mark-to-market adjustments on pension and postretirement plans, transaction gains/losses, purchase accounting amortization, depreciation, stock-based compensation and other non-recurring items ("Adjusted EBITDA"). Also, certain corporate-related costs are not allocated to the segments. The reportable segments are consistent with how management views the markets served by Adient and reflect the financial information that is reviewed by its chief operating decision maker.

Financial information relating to Adient's reportable segments is as follows:

(in millions)
Three months ended September 30, 2026
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,915 $1,054 $785 $(24)$3,730 
Adjusted EBITDA$85 $32 $136 $(24)$229 
Adjusted EBITDA margin4.4 %3.0 %17.3 %N/A6.1 %
Three months ended September 30, 2025
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,786 $1,145 $783 $(26)$3,688 
Adjusted EBITDA$111 $31 $106 $(22)$226 
Adjusted EBITDA margin6.2 %2.7 %13.5 %N/A6.1 %

(in millions)
Twelve months ended September 30, 2026
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$7,369 $4,742 $3,148 $(91)$15,168 
Adjusted EBITDA$399 $125 $450 $(90)$884 
Adjusted EBITDA margin5.4 %2.6 %14.3 %N/A5.8 %
Twelve months ended September 30, 2025
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$6,856 $4,773 $2,983 $(77)$14,535 
Adjusted EBITDA$402 $124 $440 $(85)$881 
Adjusted EBITDA margin5.9 %2.6 %14.8 %N/A6.1 %






Appendix
Page 5

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Adjusted EBITDA
Americas$85 $111 $399 $402 
EMEA32 31 125 124 
Asia136 106 450 440 
Subtotal253 248 974 966 
Corporate-related costs (1)
(24)(22)(90)(85)
Restructuring and impairment costs (2)
(74)(11)(108)(392)
Purchase accounting amortization (3)
(12)(12)(47)(47)
Restructuring related activities (4)
(9)2 (30)(11)
Equity based compensation(8)(12)(34)(32)
Depreciation(75)(72)(286)(279)
Gain on disposal transactions (5)
— — — 4 
Other items (6)
(7)(1)(4)(9)
Earnings before interest and income taxes44 120 375 115 
Net financing charges(62)(49)(206)(193)
Other pension income (expense)16 (7)11 (10)
Income (loss) before income taxes$(2)$64 $180 $(88)

Refer to the Footnote Addendum for footnote explanations.


2. Earnings Per Share

The following table reconciles the numerators and denominators used to calculate basic and diluted earnings (loss) per share:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions, except per share data)2026202520262025
Income available to shareholders
Net income (loss) attributable to Adient$(47)$18 $(17)$(281)
Weighted average shares outstanding
Basic weighted average shares outstanding76.1 80.3 77.8 83.0 
Effect of dilutive securities:
Stock options, unvested restricted stock and unvested performance share awards— 1.0 — — 
Diluted weighted average shares outstanding76.1 81.3 77.8 83.0 




Appendix
Page 6

3. Non-GAAP Measures

Adjusted EBIT, adjusted EBIT margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income attributable to Adient, adjusted effective tax rate, adjusted earnings per share, adjusted equity income, adjusted interest expense, free cash flow, net debt, and net leverage ratio as well as other measures presented on an adjusted basis are not recognized terms under U.S. GAAP and do not purport to be alternatives to the most comparable U.S. GAAP amounts. Since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. Management uses the identified non-GAAP measures to evaluate the operating performance of the Company and its business segments and to forecast future periods. Management believes these non-GAAP measures assist investors and other interested parties in evaluating Adient's on-going operations and provide important supplemental information to management and investors regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. Reconciliations of non-GAAP measures to their closest U.S. GAAP equivalent are presented in the corresponding tables that follow the definitions below. Reconciliations of non-GAAP measures related to guidance for any future period have not been provided due to the unreasonable efforts it would take to provide such reconciliations.

(a)Adjusted EBIT is defined as income (loss) before income taxes and noncontrolling interests excluding net financing charges, restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, other significant non-recurring items, and net mark-to-market adjustments on pension and postretirement plans. Adjusted EBIT margin is adjusted EBIT as a percentage of net sales.
(b)Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and equity based compensation. Certain corporate-related costs are not allocated to the business segments in determining adjusted EBITDA. Adjusted EBITDA margin is adjusted EBITDA as a percentage of net sales.
(c)Adjusted net income attributable to Adient is defined as net income (loss) attributable to Adient excluding restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, expenses associated with becoming an independent company, other significant non-recurring items, net mark-to-market adjustments on pension and postretirement plans, the tax impact of these items and other discrete tax charges/benefits.
(d)Adjusted income tax expense (benefit) is defined as income tax expense adjusted for the tax effect of the adjustments to income before income taxes and other discrete tax changes/benefits. Adjusted effective tax rate is defined as adjusted income tax expense (benefit) as a percentage of adjusted income before income taxes.
(e)Adjusted diluted earnings per share is defined as adjusted net income (loss) attributable to Adient divided by diluted weighted average shares.
(f)Adjusted equity income is defined as equity income excluding amortization of Adient's intangible assets related to its non-consolidated joint ventures and other unusual or non-recurring items impacting equity income.
(g)Adjusted interest expense is defined as net financing charges excluding unusual or one-time items impacting interest expense.
(h)Free cash flow is defined as cash provided by operating activities less capital expenditures.
(i)Net debt is calculated as total debt (short-term and long-term) less cash and cash equivalents.
(j)Net leverage ratio is calculated as net debt divided by adjusted EBITDA for the last four quarters.



Appendix
Page 7

Reconciliations of non-GAAP measures to their closest US GAAP equivalent:


(a) & (b) Adjusted EBIT and Adjusted EBITDA

The following table reconciles net income (loss) to EBIT, adjusted EBIT and adjusted EBITDA:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Net income (loss)$(20)$38 $65 $(191)
Net financing charges62 49 206 193 
Other pension expense (income)(16)7 (11)10 
Income tax expense 18 26 115 103 
Earnings before interest and income taxes (EBIT)$44 $120 $375 $115 
EBIT adjustments:
Restructuring and impairment charges (2)
74 11 108 392 
Purchase accounting amortization (3)
12 12 47 47 
Restructuring related activities (4)
9 (2)30 11 
Gain on disposal transactions (5)
— — — (4)
Other items (6)
7 1 4 9 
EBIT adjustments total102 22 189 455 
Adjusted EBIT$146 $142 $564 $570 
EBITDA adjustments:
Depreciation75 72 286 279 
Equity based compensation8 12 34 32 
Adjusted EBITDA$229 $226 $884 $881 
Net sales$3,730 $3,688 $15,168 $14,535 
Net income (loss) as % of net sales(0.5)%1.0 %0.4 %(1.3)%
EBIT as % of net sales1.2 %3.3 %2.5 %0.8 %
Adjusted EBIT as % of net sales3.9 %3.9 %3.7 %3.9 %
Adjusted EBITDA as % of net sales6.1 %6.1 %5.8 %6.1 %

Refer to the Footnote Addendum for footnote explanations.








Appendix
Page 8

(c) Adjusted net income attributable to Adient

The following table reconciles net income (loss) attributable to Adient to adjusted net income attributable to Adient:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Net income (loss) attributable to Adient$(47)$18 $(17)$(281)
Net income adjustments:
EBIT adjustments total - see table (a) & (b)102 22 189 455 
Tax impact of EBIT adjustments and other tax items - see table (d)(12)(4)(19)(16)
Pension mark-to-market & settlement loss (gain)(17)7 (15)7 
Fees paid on Term Loan B modifications2 — 2 — 
Premium paid on repurchase of debt10 — 10 — 
Write off of deferred financing costs upon repurchase of debt3 — 3 2 
Impact of adjustments on noncontrolling interests (7)
(1)(1)(6)(6)
Net income (loss) adjustments total87 24 164 442 
Adjusted net income attributable to Adient$40 $42 $147 $161 

Refer to the Footnote Addendum for footnote explanations.


(d) Adjusted income tax expense and effective tax rate

The following tables reconcile income (loss) before income taxes to adjusted income before income taxes, income tax expense (benefit) to adjusted income tax expense (benefit) and presents the related effective tax rate and adjusted effective tax rate:

Three months ended September 30,
20262025
(in millions, except effective tax rate)Income before income taxesIncome tax expense (benefit)Effective tax rateIncome before income taxesIncome tax expense (benefit) Effective tax rate
As reported$(2)$18 nm$64 $26 40.6 %
Adjustments
EBIT adjustments - see table (a) & (b)102 16 15.7 %22 3 13.6 %
Premium paid on repurchase of debt10 — — %— — nm
Write off of deferred financing charges upon repurchase of debt3 — — %— — nm
Fees paid on Term Loan B modifications2 — — %— — nm
Pension mark-to-market & settlement loss(17)— — %7 4 57.1 %
UTP establishments and interest— (5)nm— (4)nm
Tax audit closures and statute expirations— — nm— 2 nm
FX remeasurements of tax balances— (2)nm— 1 nm
Other— 3 nm— (2)nm
Subtotal of adjustments100 12 12.0 %29 4 13.8 %
As adjusted$98 $30 30.6 %$93 $30 32.3 %

Appendix
Page 9




Twelve months ended September 30,
20262025
(in millions, except effective tax rate)Income before income taxesIncome tax expense (benefit)Effective tax rateIncome before income taxesIncome tax expense (benefit) Effective tax rate
As reported$180 $115 63.9 %$(88)$103 nm
Adjustments
EBIT adjustments - see table (a) & (b)189 24 12.7 %455 23 5.1 %
Premium paid on repurchase of debt10 — — %— — nm
Write off of deferred financing charges upon repurchase of debt3 — — %2 — — %
Fees paid on Term Loan B modifications2 — — %— — nm
Pension mark-to-market & settlement loss(15)— — %7 4 57.1 %
NOL DTA adjustments— — nm— (19)nm
UTP establishments and interest— (34)nm— (17)nm
Tax audit closures and statute expirations— 12 nm— 25 nm
Intellectual property rights transfer— 11 nm— — nm
FX remeasurements of tax balances— 2 nm— 4 nm
Other— 4 nm— (4)nm
Subtotal of adjustments189 19 10.1 %464 16 3.4 %
As adjusted$369 $134 36.3 %$376 $119 31.6 %


(e) Adjusted diluted earnings per share

The following table shows the calculation of diluted earnings per share on an adjusted basis:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions, except per share data)2026202520262025
Numerator:
Adjusted net income attributable to Adient - see table (c)$40 $42 $147 $161 
Denominator:
Basic weighted average shares outstanding76.1 80.3 77.8 83.0 
Effect of dilutive securities:
Unvested restricted stock and unvested performance share awards1.3 1.0 1.0 0.4 
Diluted weighted average shares outstanding77.4 81.3 78.8 83.4 
Adjusted diluted earnings per share$0.52 $0.52 $1.87 $1.93 



Appendix
Page 10

The following table reconciles diluted earnings (loss) per share as reported to adjusted diluted earnings per share (see table (c) for corresponding dollar amounts):

Three Months Ended
September 30,		Twelve Months Ended
September 30,
2026202520262025
Diluted earnings (loss) per share as reported$(0.62)$0.22 $(0.22)$(3.39)
EBIT adjustments total1.33 0.27 2.40 5.47 
Tax impact of EBIT adjustments and other tax items(0.16)(0.05)(0.24)(0.18)
Pension mark-to-market & settlement loss(0.22)0.09 (0.19)0.08 
Fees paid on Term Loan B modifications0.03 — 0.03 — 
Premium paid on repurchase of debt0.13 — 0.13 — 
Write off of deferred financing costs upon repurchase of debt0.04 — 0.04 0.02 
Impact of adjustments on noncontrolling interests (0.01)(0.01)(0.08)(0.07)
Adjusted diluted earnings per share$0.52 $0.52 $1.87 $1.93 


(f) Adjusted equity income

The following table reconciles equity income to adjusted equity income:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Equity income$20 $8 $80 $68 
Equity income adjustments:
Gain on disposal transactions (5)
— — — (4)
Restructuring charges at an affiliate— (1)3 5 
Purchase accounting amortization and other— 1 — 2 
Equity income adjustments total— — 3 3 
Adjusted equity income$20 $8 $83 $71 


(g) Adjusted interest expense

The following table reconciles net financing charges to adjusted net financing charges:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Net financing charges$62 $49 $206 $193 
Interest expense adjustments:
Premium paid on repurchase of debt(10)— (10)— 
Write off of deferred financing costs upon repurchase of debt(3)— (3)(2)
Fees paid on Term Loan B modifications(2)— (2)— 
Interest expense adjustments total(15)— (15)(2)
Adjusted net financing charges$47 $49 $191 $191 



Appendix
Page 11




(h) Free cash flow

The following table reconciles cash from operating activities to free cash flow:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Operating cash flow$167 $213 $533 $449 
Capital expenditures(106)(79)(311)(245)
Free cash flow **61 134 222 204 

** Free cash flows for the twelve months ended September 30, 2026 and 2025 exclude dividends paid to noncontrolling interests of $92 million and $90 million, respectively.


The following table reconciles adjusted EBITDA to free cash flow:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Adjusted EBITDA $229 $226 $884 $881 
Adjusted equity income(20)(8)(83)(71)
Dividends from partially-owned affiliates32 28 110 100 
Restructuring (cash)(28)(30)(105)(131)
Trade working capital (Net AR/AP + Inventory)32 29 137 (9)
Interest paid(57)(46)(207)(188)
Cash taxes(23)(22)(127)(92)
Other2 36 (76)(41)
Capital expenditures(106)(79)(311)(245)
Free cash flow$61 $134 $222 $204 




















Appendix
Page 12

(i) & (j) Net debt and net leverage ratio

The following table presents calculations of net debt and net leverage ratio:

September 30,September 30,
(in millions)20262025
Numerator:
Short-term debt$— $2 
Current portion of long-term debt14 9 
Long-term debt2,338 2,386 
Total debt2,352 2,397 
Less: cash and cash equivalents(886)(958)
Net debt$1,466 $1,439 
Denominator:
Adjusted EBITDA - last four quarters
Q1 2025na196 
Q2 2025na233 
Q3 2025na226 
Q4 2025na226 
Q1 2026207 na
Q2 2026223 na
Q3 2026225 na
Q4 2026 - see table (a) & (b)229 na
Last four quarters$884 $881 
Net leverage ratio1.661.63

Appendix
Page 13


Footnote Addendum

(1) Corporate-related costs not allocated to the segments include executive office, communications, corporate development, legal and corporate finance.

(2) Reflects restructuring charges for costs that are probable and reasonably estimable and one-time asset impairments, including a $333 million goodwill impairment and an $8 million impairment of the Adient Aerospace joint venture recorded during the twelve months ended September 30, 2025.

(3) Reflects amortization of intangible assets including those related to partially owned affiliates recorded within equity income.

(4) Reflects restructuring-related charges for costs that are recorded as incurred or as earned and other non-recurring impacts that are directly attributable to restructuring activities:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Restructuring related charges$(9)$(11)$(27)$(29)
Restructuring adjustments/(charges) at an affiliate— 1 (3)(5)
Gain on sales of restructured facilities— 12 — 23 
$(9)$2 $(30)$(11)

(5) Reflects $4 million gain on sale of Setex recorded during the twelve months ended September 30, 2025.

(6) Other items include:

Three Months Ended
September 30,		Twelve Months Ended
September 30,
(in millions)2026202520262025
Non-recurring contract related settlement$— $— $2 $2 
Transaction costs(1)(1)(5)(10)
Non-recurring FX-related expense(6)— (6)— 
Non-recurring reserve release— — 5 — 
Other— — — (1)
$(7)$(1)$(4)$(9)

(7) Reflects the impact of adjustments, primarily purchase accounting amortization on noncontrolling interests.



Source: View Original Filing on SEC EDGAR

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