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Adient (NYSE: ADNT) returns to profit but Q2 2026 margins tighten

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(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Adient plc reported results for the quarter ended March 31, 2026, showing a return to profitability on higher sales. Net sales rose to $3,865 million from $3,611 million, while net income improved to $44 million from a loss of $313 million, largely reflecting lower restructuring and impairment charges.

Net income attributable to Adient was $27 million, or $0.34 diluted EPS, versus a diluted loss per share of $(3.99) a year earlier. On a non‑GAAP basis, adjusted EBITDA was $223 million (down slightly from $233 million), and adjusted diluted EPS was $0.52 versus $0.69. Free cash flow improved to $8 million from $(90) million as operating cash flow turned positive.

Positive

  • Return to profitability: Net income improved to $44 million from a loss of $313 million, with diluted EPS rising to $0.34 from $(3.99).
  • Stronger cash generation: Operating cash flow turned positive at $81 million versus $(45) million, and free cash flow improved to $8 million from $(90) million.

Negative

  • Underlying margin pressure: Adjusted EBITDA declined to $223 million from $233 million, with adjusted EBITDA margin narrowing to 5.8% from 6.5%.
  • Lower adjusted earnings: Adjusted net income attributable to Adient fell to $41 million from $58 million, and adjusted diluted EPS decreased to $0.52 from $0.69.

Insights

Adient swung to profit and positive free cash flow, but underlying margins softened.

Adient increased quarterly net sales to $3,865 million from $3,611 million and moved from a $313 million loss to $44 million in net income. A major driver is the absence of the prior-year $333 million goodwill impairment in EMEA, which had weighed heavily on 2025 results.

On an adjusted basis, performance is more muted. Adjusted EBITDA slipped to $223 million from $233 million, with the adjusted EBITDA margin declining to 5.8% from 6.5%. Adjusted diluted EPS fell to $0.52 from $0.69, indicating some pressure on underlying profitability despite higher revenue.

Cash generation improved meaningfully: operating cash flow was $81 million versus $(45) million, and free cash flow was $8 million versus $(90) million. The company reports net debt of $1,557 million and a net leverage ratio of 1.77x based on adjusted EBITDA of $882 million over the last four quarters, suggesting a manageable leverage profile from the data presented.

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, and exhibit attachments filed with this report.
Net sales $3,865 million Quarter ended March 31, 2026 vs $3,611 million in 2025
Net income $44 million Quarter ended March 31, 2026 vs $(313) million in 2025
Diluted EPS $0.34 Quarter ended March 31, 2026 vs $(3.99) in 2025
Adjusted EBITDA $223 million Quarter ended March 31, 2026 vs $233 million in 2025
Adjusted diluted EPS $0.52 Quarter ended March 31, 2026 vs $0.69 in 2025
Free cash flow $8 million Quarter ended March 31, 2026 vs $(90) million in 2025
Net debt $1,557 million As of March 31, 2026
Net leverage ratio 1.77x Based on last four quarters adjusted EBITDA of $882 million
Adjusted EBITDA financial
"Adient evaluates the performance of its reportable segments using an adjusted EBITDA metric defined as income (loss) before income taxes..."
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.
goodwill impairment charge financial
"During the three months ended March 31, 2025 a goodwill impairment charge of $333 million was recorded in EMEA."
Goodwill impairment charge is an accounting write-down taken when the extra value a company recorded from buying another business — things like reputation, customer relationships or brand name — is later judged to be worth less than originally paid. For investors it matters because the charge reduces reported profits and shareholder equity, often signaling that an acquisition didn’t deliver expected benefits and prompting closer scrutiny of future cash flow and management decisions.
noncontrolling interests financial
"Income attributable to noncontrolling interests | 17 | | | 22"
The portion of a subsidiary’s equity and profits that belongs to outside owners rather than the parent company; when a parent reports consolidated results it includes the whole subsidiary but shows the noncontrolling slice separately. Think of a company’s subsidiary as a pie where the parent owns most slices but some are held by other investors — noncontrolling interests tell you how much of the pie and its future earnings don’t belong to the parent, which affects how much profit and net assets are truly attributable to the parent’s shareholders.
Net sales $3,865 million +7% YoY
Net income $44 million vs $(313) million YoY
Adjusted EBITDA $223 million -4% YoY
Adjusted diluted EPS $0.52 -25% YoY
Free cash flow $8 million vs $(90) million YoY
Understanding 8-K Material Events →
0001670541FALSE00016705412026-05-062026-05-06

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): May 6, 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 May 6, 2026, Adient plc (the “Company”) issued a news release announcing its financial results for the second quarter ended March 31, 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 May 6, 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: May 6, 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
q2fy26-earningsinfographicb.jpg



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Appendix
Page 1

Adient plc
Condensed Consolidated Statements of Income (Loss)
(Unaudited)
Three Months Ended
March 31,
(in millions, except per share data)20262025
Net sales$3,865 $3,611 
Cost of sales3,608 3,350 
Gross profit257 261 
Selling, general and administrative expenses138 144 
Restructuring and impairment costs5 351 
Equity income13 18 
Earnings (loss) before interest and income taxes127 (216)
Net financing charges48 48 
Other pension expense3 1 
Income (loss) before income taxes76 (265)
Income tax provision32 48 
Net income (loss)44 (313)
Income attributable to noncontrolling interests17 22 
Net income (loss) attributable to Adient$27 $(335)
Diluted earnings (loss) per share$0.34 $(3.99)
Shares outstanding at period end78.4 84.0 
Diluted weighted average shares79.3 84.0 


Appendix
Page 2

Adient plc
Condensed Consolidated Statements of Financial Position
(Unaudited)

March 31,September 30,
(in millions)20262025
Assets
Cash and cash equivalents$831 $958 
Accounts receivable - net
2,032 1,873 
Inventories735 695 
Other current assets649 607 
Current assets4,247 4,133 
Property, plant and equipment - net1,384 1,409 
Goodwill1,798 1,807 
Other intangible assets - net305 319 
Investments in partially-owned affiliates301 276 
Assets held for sale12 9 
Other noncurrent assets985 1,001 
Total assets$9,032 $8,954 
Liabilities and Shareholders' Equity
Short-term debt$9 $11 
Accounts payable and accrued expenses3,113 2,942 
Other current liabilities748 734 
Current liabilities3,870 3,687 
Long-term debt2,379 2,386 
Other noncurrent liabilities695 723 
Redeemable noncontrolling interests71 95 
Shareholders' equity attributable to Adient1,713 1,766 
Noncontrolling interests304 297 
Total liabilities and shareholders' equity$9,032 $8,954 



Appendix
Page 3

Adient plc
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Three Months Ended
March 31,
(in millions)20262025
Operating Activities
Net income (loss) attributable to Adient$27 $(335)
Income attributable to noncontrolling interests17 22 
Net income (loss)44 (313)
Adjustments to reconcile net income (loss) to cash provided (used) by operating activities:
Depreciation68 67 
Amortization of intangibles12 12 
Pension and postretirement benefit expense5 3 
Pension and postretirement contributions, net(8)(5)
Equity in earnings of partially-owned affiliates, net of dividends received15 29 
Deferred income taxes1 10 
Non-cash impairment charges— 333 
Equity-based compensation9 5 
Other1 5 
Changes in assets and liabilities:
Receivables(411)(439)
Inventories17 18 
Other assets15 (5)
Accounts payable and accrued liabilities336 223 
Accrued income taxes(23)12 
Cash provided (used) by operating activities81 (45)
Investing Activities
Capital expenditures(73)(45)
Sale of property, plant and equipment— 2 
Investments in partially-owned affiliates(2)— 
Other— (1)
Cash used by investing activities(75)(44)
Financing Activities
Drawdown of ABL revolver and other bank borrowings150 2 
Repayment of ABL revolver and other bank borrowings(152)— 
Issuance of long-term debt— 795 
(Repayment) of long-term debt(3)(797)
Debt financing costs(1)(12)
Dividends paid to noncontrolling interests(1)(35)
Cash used by financing activities(7)(47)
Effect of exchange rate changes on cash and cash equivalents(23)30 
Decrease in cash and cash equivalents$(24)$(106)

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. 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 March 31, 2026
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,884 $1,272 $734 $(25)$3,865 
Adjusted EBITDA$109 $45 $92 $(23)$223 
Adjusted EBITDA margin5.8 %3.5 %12.5 %N/A5.8 %
Three months ended March 31, 2025
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,699 $1,231 $707 $(26)$3,611 
Adjusted EBITDA$94 $50 $110 $(21)$233 
Adjusted EBITDA margin5.5 %4.1 %15.6 %N/A6.5 %

Appendix
Page 5

The following is a reconciliation of Adient's reportable segments' adjusted EBITDA to income (loss) before income taxes:

Three Months Ended
March 31,
(in millions)20262025
Adjusted EBITDA
Americas$109 $94 
EMEA45 50 
Asia92 110 
Subtotal246 254 
Corporate-related costs (1)
(23)(21)
Restructuring and impairment costs (2)
(5)(351)
Purchase accounting amortization (3)
(12)(12)
Restructuring related activities (4)
(6)(5)
Equity based compensation(9)(5)
Depreciation(68)(67)
Other items (5)
4 (9)
Earnings (loss) before interest and income taxes$127 $(216)
Net financing charges(48)(48)
Other pension expense(3)(1)
Income (loss) before income taxes$76 $(265)

Refer to the Footnote Addendum for footnote explanations.


2. Earnings (loss) Per Share

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

Three Months Ended
March 31,
(in millions, except per share data)20262025
Income available to shareholders
Net income (loss) attributable to Adient$27 $(335)
Weighted average shares outstanding
Basic weighted average shares outstanding78.4 84.0 
Effect of dilutive securities:
Unvested restricted stock and unvested performance share awards0.9 — 
Diluted weighted average shares outstanding79.3 84.0 
Earnings (loss) per share:
Basic$0.34 $(3.99)
Diluted$0.34 $(3.99)

The effect of common stock equivalents which would have been anti-dilutive was excluded, and immaterial, from the calculation of diluted earnings per share for the three months ended March 31, 2026. Potentially dilutive securities whose effect would have been anti-dilutive are excluded from the computation of diluted earnings per share for the three months ended March 31, 2025 as a result of being in a loss position.

Appendix
Page 6

3. Non-GAAP Measures

Adjusted EBIT, adjusted EBIT margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss) 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 Adient 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.

Table
(a)Adjusted EBIT is defined as earnings (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, 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 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 provision as a percentage of adjusted income before income taxes.
(e)Adjusted diluted earnings per share is defined as adjusted net income 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
March 31,
(in millions)20262025
Net income (loss)$44 $(313)
Net financing charges48 48 
Other pension expense3 1 
Income tax expense32 48 
Earnings (loss) before interest and income taxes (EBIT)$127 $(216)
EBIT adjustments:
Restructuring and impairment costs (2)
5 351 
Purchase accounting amortization (3)
12 12 
Restructuring related activities (4)
6 5 
Other items (5)
(4)9 
EBIT adjustments total19 377 
Adjusted EBIT$146 $161 
EBITDA adjustments:
Depreciation68 67 
Equity based compensation9 5 
Adjusted EBITDA$223 $233 
Net sales$3,865 $3,611 
Net income (loss) as % of net sales1.1 %(8.7)%
EBIT as % of net sales3.3 %(6.0)%
Adjusted EBIT as % of net sales3.8 %4.5 %
Adjusted EBITDA as % of net sales5.8 %6.5 %

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
March 31,
(in millions)20262025
Net income (loss) attributable to Adient$27 $(335)
Net income adjustments:
EBIT adjustments total - see table (a) & (b)19 377 
Tax impact of EBIT adjustments and other tax items - see table (d)(6)15 
Pension actuarial loss2 — 
Write off of deferred financing costs upon repurchase of debt— 2 
Impact of adjustments on noncontrolling interests (6)
(1)(1)
Net income adjustments total14 393 
Adjusted net income attributable to Adient$41 $58 

Refer to the Footnote Addendum for footnote explanations.


(d) Adjusted income tax expense and effective tax rate

The following table reconciles income before income taxes to adjusted income before income taxes, reconciles income tax expense to adjusted income tax expense and presents the related effective tax rate and adjusted effective tax rate:

Three months ended March 31,
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$76 $32 42.1 %$(265)$48 (18.1)%
Adjustments
EBIT adjustments - see table (a) & (b)19 3 15.8 %377 16 4.2 %
Tax audit closures and statute expirations— 3 nm— 1 nm
UTP establishments and interest— (2)nm— (11)nm
NOL DTA adjustments— — nm— (19)nm
Pension actuarial loss2 — — %— — nm
Net financing charges— — nm2 — — %
Other— 2 nm— (2)nm
Subtotal of adjustments21 6 28.6 %379 (15)(4.0)%
As adjusted$97 $38 39.2 %$114 $33 28.9 %

nm - not meaningful



Appendix
Page 9

(e) Adjusted diluted earnings per share

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

Three Months Ended
March 31,
(in millions, except per share data)20262025
Numerator:
Adjusted net income attributable to Adient - see table (c)$41 $58 
Denominator:
Basic weighted average shares outstanding78.4 84.0 
Effect of dilutive securities:
Unvested restricted stock and unvested performance share awards0.9 0.1 
Diluted weighted average shares outstanding79.3 84.1 
Adjusted diluted earnings per share$0.52 $0.69 


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
March 31,
20262025
Diluted earnings (loss) per share as reported$0.34 $(3.99)
EBIT adjustments total0.24 4.49 
Tax impact of EBIT adjustments and other tax items(0.08)0.18 
Pension actuarial loss0.03 — 
Write off of deferred financing costs upon repurchase of debt— 0.02 
Impact of adjustments on noncontrolling interests (0.01)(0.01)
Adjusted diluted earnings per share$0.52 $0.69 


(f) Adjusted equity income

The following table reconciles equity income to adjusted equity income:
Three Months Ended
March 31,
(in millions)20262025
Equity income$13 $18 
Equity income adjustments:
Restructuring charges at affiliates1 — 
Non-recurring loss at affiliates— 1 
Equity income adjustments total1 1 
Adjusted equity income$14 $19 



Appendix
Page 10

(g) Adjusted interest expense

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

Three Months Ended
March 31,
(in millions)20262025
Net financing charges$48 $48 
Interest expense adjustments:
Write off of deferred financing costs upon repurchase of debt— (2)
Interest expense adjustments total— (2)
Adjusted net financing charges$48 $46 

(h) Free cash flow

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

Three Months Ended
March 31,		Six Months Ended
March 31,
(in millions)2026202520262025
Operating cash flow$81 $(45)$161 $64 
Capital expenditures(73)(45)(138)(109)
Free cash flow$8 $(90)$23 $(45)


The following table reconciles adjusted EBITDA to free cash flow:

Three Months Ended
March 31,		Six Months Ended
March 31,
(in millions)2026202520262025
Adjusted EBITDA $223 $233 $430 $429 
Adjusted equity income(14)(18)(43)(39)
Dividends from partially owned affiliates28 46 28 52 
Restructuring (cash)(19)(33)(38)(67)
Working capital(79)(207)(40)(146)
Interest paid(43)(33)(97)(87)
Cash taxes(54)(24)(74)(39)
Other39 (9)(5)(39)
Capital expenditures(73)(45)(138)(109)
Free cash flow$8 $(90)$23 $(45)

During the second quarter of fiscal 2026, Adient experienced higher operating cash flows resulting from certain commercial and derivative transactions approximating $90 million, which are expected to be settled and paid in the third quarter of fiscal 2026.









Appendix
Page 11



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

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

March 31,September 30,
(in millions)20262025
Numerator:
Short-term debt$— $2 
Current portion of long-term debt9 9 
Long-term debt2,379 2,386 
Total debt2,388 2,397 
Less: cash and cash equivalents831 958 
Net debt$1,557 $1,439 
Denominator:
Adjusted EBITDA - last four quarters
Q1 2025 na$196 
Q2 2025na233 
Q3 2025226 226 
Q4 2025226 226 
Q1 2026207 na
Q2 2026 - see table (a) & (b)223 na
Last four quarters$882 $881 
Net leverage ratio1.771.63

Appendix
Page 12

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 related
to restructuring activities. During the three months ended March 31, 2025 a goodwill impairment charge of $333 million was recorded in EMEA.

(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
March 31,
(in millions)20262025
Restructuring related charges$(5)$(5)
Restructuring charges at affiliates(1)— 
$(6)$(5)

(5) Other items include:

Three Months Ended
March 31,
(in millions)20262025
Non-recurring reserve release$5 $— 
Transaction costs(1)— 
Consulting costs associated with strategic planning— (8)
Non-recurring loss at an affiliate— (1)
$4 $(9)

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

Source: View Original Filing on SEC EDGAR

FAQ

How did Adient (ADNT) perform financially in the quarter ended March 31, 2026?

Adient reported net sales of $3,865 million and net income of $44 million for the quarter. This compares to sales of $3,611 million and a net loss of $313 million a year earlier, showing a return to profitability on higher revenue.

What were Adient (ADNT) earnings per share for the second quarter of 2026?

Diluted earnings per share were $0.34 for the quarter, versus a diluted loss per share of $(3.99) in the prior-year period. On an adjusted basis, diluted EPS was $0.52, compared with $0.69 a year earlier.

How did Adient (ADNT) adjusted EBITDA and margins change year over year?

Adjusted EBITDA was $223 million, slightly below $233 million in the prior-year quarter. The adjusted EBITDA margin declined to 5.8% from 6.5%, indicating modest pressure on underlying profitability despite higher net sales.

What was Adient (ADNT) free cash flow for the quarter ended March 31, 2026?

Free cash flow was $8 million for the quarter, calculated as operating cash flow of $81 million minus capital expenditures of $73 million. This represents a significant improvement from free cash flow of $(90) million in the same quarter of 2025.

What is Adient (ADNT) net debt and leverage ratio as of March 31, 2026?

As of March 31, 2026, Adient reported total debt of $2,388 million and cash of $831 million, resulting in net debt of $1,557 million. Using adjusted EBITDA of $882 million for the last four quarters, the net leverage ratio was 1.77x.

How did segment performance look for Adient (ADNT) in the quarter?

Americas net sales were $1,884 million, EMEA $1,272 million, and Asia $734 million. Adjusted EBITDA was $109 million for Americas, $45 million for EMEA, and $92 million for Asia, with Asia showing the highest adjusted EBITDA margin.

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