Adient delivers strong FY 2017 Q1 results
PLYMOUTH, Mich., Feb. 3, 2017 /PRNewswire/ — Adient (NYSE: ADNT), a global leader in automotive seating and interiors, today announced strong first-quarter earnings.
- GAAP net income and EPS diluted up 9% to $149M and $1.59, respectively; Adjusted-EPS diluted up 13% to $2.12
- EBIT-adjusted expanded to $290M (margin of 7.2%)
- Cash and cash equivalents of $709M at December 31, 2016
- Gross debt and net debt totaled $3,461M and $2,752M, respectively, at December 31, 2016
For complete details and to see reconciliations of non-GAAP measures to their most directly comparable GAAP measures, click here to download the full press release, or visit the events section of the Adient investor website at www.investors.adient.com/events-and-presentations/events.
Investor analyst conference call:
Adient’s Chairman and Chief Executive Officer, R. Bruce McDonald, and Executive Vice President and Chief Financial Officer, Jeff Stafeil, will host a conference call today at 8:30 a.m. Eastern to discuss the results. To participate by telephone, please dial 800-779-1454 (U.S.) or 312-470-7220 (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.
Adient is a global leader in automotive seating. With 75,000 employees operating 230 manufacturing/assembly plants in 33 countries worldwide, we produce and deliver automotive seating for all vehicle classes and all major OEMs. From complete seating systems to individual components, our expertise spans every step of the automotive seat-making process. Our integrated, in-house skills allow us to take our products from research and design all the way to engineering and manufacturing – and into more than 25 million vehicles every year.