Adient PLC

ADNT

Equity

ISIN IE00BD845X29 / Valor 34149058

New York Stock Exchange, Inc (2024-09-18)

USD 21.69+0.14%

Adient PLC
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About company

Adient PLC is an independent, publicly traded company that specializes in automotive seating. The company completed its separation from Johnson Controls International plc in 2016 and is solely responsible for the operation of its business. Adient focuses on designing, manufacturing, and selling automotive seating systems to various automotive manufacturers worldwide.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Net Income and EPS

Adient PLC reported a GAAP net income of $(70) million for the second quarter of 2024, translating to a diluted EPS of $(0.77). However, the adjusted diluted EPS stood at $0.54, indicating a more favorable performance when excluding certain items.

Adjusted EBITDA

For Q2 2024, Adient PLC achieved an adjusted EBITDA of $227 million, which represents a year-over-year increase of $12 million. The adjusted EBITDA margin improved by 60 basis points to 6.1% compared to the same period last year.

Debt and Cash Position

As of March 31, 2024, Adient PLC's gross debt and net debt were approximately $2.5 billion and $1.6 billion, respectively. The company also reported having cash and cash equivalents totaling $905 million at the end of the quarter.

Share Repurchases

During the second quarter of 2024, Adient PLC executed $50 million worth of share repurchases, retiring approximately 1.5 million shares. Year-to-date, the company has repurchased $150 million worth of shares, totaling around 4.5 million shares.

FY24 Outlook Update

Adient PLC provided an update to its FY24 outlook, acknowledging challenges such as the slow ramp-up of launches, adverse customer mix, and softer electric vehicle production in the Americas and EMEA regions. These factors are expected to impact the company's performance for the remainder of the fiscal year.

Summarized from source with an LLMView Source

Key figures

-42.0%1Y

-42.3%3Y

-7.98%5Y

Performance

37.0%1Y

48.6%3Y

65.6%5Y

Volatility