Adient reports fourth quarter and full-year 2024 financial results; provides full-year FY2025 outlook

Adient reports fourth quarter and full-year 2024 financial results; provides full-year FY2025 outlook

Benzinga
November 8, 2024

PLYMOUTH, Mich., Nov. 8, 2024 /PRNewswire/ -- Adient (NYSE:ADNT), a global leader in automotive seating, today announced its fourth quarter 2024 financial results.

Q4 GAAP net income and EPS diluted of $79M and $0.91, respectively; Q4 Adj.-EPS diluted of $0.68

Q4 Adj.-EBITDA of $235M, flat y-o-y; adj.-EBITDA margin of 6.6% up 30bps y-o-y

Gross debt and net debt totaled ~$2.4B and ~$1.5B, respectively, at September 30, 2024; cash and cash equivalents of $945M at September 30, 2024

For the full FY2024, Adient generated $277M of FCF and returned $275M to shareholders via share repurchases; the company also paid down ~$130M in debt

Looking ahead to FY2025, Adient expects approximately flat adj.-EBITDA with business performance to offset lower volumes, driving flat to improved total margins

For complete details and to see reconciliations of non-GAAP measures to their most directly comparable GAAP measures, visit the events section of the Adient investor website at https://investors.adient.com/events-and-presentations/events to download the full press release and earnings presentation.

Investor analyst conference call:Adient's president and chief executive officer, Jerome Dorlack, and executive vice president and chief financial officer, Mark Oswald, will host a conference call today at 8:30 a.m. Eastern to discuss the results. To participate by telephone, please dial 888-566-1827 (U.S.) or 773-799-3976 (international) 15 minutes prior to the start time of the call and ask to be connected to the Adient conference call. The conference passcode is ADIENT.

About Adient:Adient (NYSE:ADNT) is a global leader in automotive seating. With 70,000+ employees in 29 countries, Adient operates more than 200 manufacturing/assembly plants worldwide. We produce and deliver automotive seating for all major OEMs. From complete seating systems to individual components, our expertise ...

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