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

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Adient (NYSE: ADNT) reported its Q4 2024 financial results, posting GAAP net income of $79M and EPS of $0.91. Q4 Adjusted-EBITDA remained flat year-over-year at $235M, with margin improving 30bps to 6.6%. The company ended FY2024 with $945M in cash and cash equivalents, gross debt of $2.4B, and net debt of $1.5B. Throughout FY2024, Adient generated $277M in free cash flow, returned $275M to shareholders through share repurchases, and reduced debt by approximately $130M. For FY2025, the company projects flat adjusted-EBITDA with business performance expected to offset lower volumes.

Adient (NYSE: ADNT) ha riportato i risultati finanziari del Q4 2024, registrando un reddito netto GAAP di 79 milioni di dollari e un utile per azione (EPS) di 0,91 dollari. L'EBITDA rettificato del Q4 è rimasto stabile rispetto all'anno precedente a 235 milioni di dollari, con un margine migliorato di 30 punti base al 6,6%. L'azienda ha concluso l'anno fiscale 2024 con 945 milioni di dollari in cassa e equivalenti, un debito lordo di 2,4 miliardi di dollari e un debito netto di 1,5 miliardi di dollari. Durante l'anno fiscale 2024, Adient ha generato 277 milioni di dollari di flusso di cassa libero, ha restituito 275 milioni di dollari agli azionisti attraverso riacquisti di azioni e ha ridotto il debito di circa 130 milioni di dollari. Per l'anno fiscale 2025, l'azienda prevede un EBITDA rettificato stabile, con prestazioni aziendali che dovrebbero compensare volumi più bassi.

Adient (NYSE: ADNT) informó sus resultados financieros del Q4 2024, registrando un ingreso neto GAAP de 79 millones de dólares y un EPS de 0.91 dólares. El EBITDA ajustado del Q4 se mantuvo plano en comparación con el año anterior en 235 millones de dólares, con un margen que mejoró 30 puntos básicos al 6.6%. La compañía cerró el año fiscal 2024 con 945 millones de dólares en efectivo y equivalentes, una deuda bruta de 2.4 mil millones de dólares y una deuda neta de 1.5 mil millones de dólares. A lo largo del año fiscal 2024, Adient generó 277 millones de dólares en flujo de caja libre, devolvió 275 millones de dólares a los accionistas a través de recompras de acciones y redujo la deuda en aproximadamente 130 millones de dólares. Para el año fiscal 2025, la empresa proyecta un EBITDA ajustado estable, con un desempeño comercial que se espera que compense volúmenes más bajos.

Adient (NYSE: ADNT)는 2024년 4분기 금융 실적을 발표하며 GAAP 순이익 7,900만 달러와 주당 순이익(EPS) 0.91달러를 기록했습니다. 4분기 조정 EBITDA는 전년 대비 변동 없이 2억 3,500만 달러에 머물렀으며, 마진은 30bp 개선된 6.6%로 나타났습니다. 회사는 2024 회계를 종료하며 현금 및 현금성 자산 9억 4,500만 달러, 총 부채 24억 달러 및 순 부채 15억 달러를 기록했습니다. 2024 회계 연도 동안 Adient는 2억 7,700만 달러의 자유 현금 흐름을 창출하고, 2억 7,500만 달러를 주주에게 주식 재매입을 통해 환원했으며, 약 1억 3,000만 달러의 부채를 줄였습니다. 2025 회계 연도에는 기업의 실적이 낮은 물량을 상쇄할 것으로 예상되며, 조정 EBITDA가 안정적일 것으로 전망하고 있습니다.

Adient (NYSE: ADNT) a annoncé ses résultats financiers pour le T4 2024, affichant un revenu net GAAP de 79 millions de dollars et un BPA de 0,91 dollar. L'EBITDA ajusté du T4 est resté stable d'une année sur l'autre à 235 millions de dollars, avec une marge améliorée de 30 points de base à 6,6 %. L'entreprise a terminé l'exercice 2024 avec 945 millions de dollars de liquidités et équivalents, une dette brute de 2,4 milliards de dollars et une dette nette de 1,5 milliard de dollars. Au cours de l'exercice 2024, Adient a généré un flux de trésorerie libre de 277 millions de dollars, a restitué 275 millions de dollars aux actionnaires par le biais de rachats d'actions, et a réduit sa dette d'environ 130 millions de dollars. Pour l'exercice 2025, l'entreprise prévoit un EBITDA ajusté stable, avec des performances commerciales qui devraient compenser des volumes plus faibles.

Adient (NYSE: ADNT) hat seine finanziellen Ergebnisse für das 4. Quartal 2024 veröffentlicht und einen GAAP-Nettoertrag von 79 Millionen Dollar sowie einen Gewinn pro Aktie (EPS) von 0,91 Dollar ausgewiesen. Das angepasste EBITDA für das 4. Quartal blieb im Jahresvergleich bei 235 Millionen Dollar stabil, während die Marge um 30 Basispunkte auf 6,6 % verbessert wurde. Das Unternehmen schloss das Geschäftsjahr 2024 mit 945 Millionen Dollar in liquiden Mitteln und Zahlungsmitteläquivalenten, einer Bruttoverschuldung von 2,4 Milliarden Dollar und einer Nettoverschuldung von 1,5 Milliarden Dollar ab. Im Geschäftsjahr 2024 generierte Adient 277 Millionen Dollar an freiem Cashflow, gab 275 Millionen Dollar an die Aktionäre durch Aktienrückkäufe zurück und verringerte die Schulden um etwa 130 Millionen Dollar. Für das Geschäftsjahr 2025 prognostiziert das Unternehmen ein stabiles angepasstes EBITDA, wobei die Unternehmensleistung voraussichtlich niedrigere Volumina ausgleichen wird.

Positive
  • Q4 GAAP net income of $79M with EPS of $0.91
  • Adjusted-EBITDA margin improved 30bps to 6.6%
  • Generated $277M free cash flow in FY2024
  • Returned $275M to shareholders via share repurchases
  • Reduced debt by ~$130M
Negative
  • Flat Q4 Adjusted-EBITDA year-over-year
  • Expecting lower volumes in FY2025
  • High debt levels with gross debt at $2.4B

Insights

Adient's Q4 FY2024 results demonstrate mixed performance with notable financial achievements. The company posted $79M in GAAP net income and maintained stable adjusted EBITDA of $235M, with margins improving by 30 basis points to 6.6%. The robust free cash flow generation of $277M for FY2024 enabled significant shareholder returns through $275M in share repurchases while simultaneously reducing debt by $130M.

The balance sheet shows a manageable leverage position with net debt of $1.5B and healthy liquidity of $945M in cash. However, the flat adjusted EBITDA guidance for FY2025 suggests cautious optimism, with efficiency improvements expected to offset volume challenges. This conservative outlook, combined with the company's focus on margin preservation and balanced capital allocation, indicates a defensive positioning in anticipation of potential market headwinds.

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 spans every step of the automotive seat-making process. Our integrated, in-house skills allow us to take our products from research and design to engineering and manufacturing — and into millions of vehicles every year. For more information on Adient, please visit www.adient.com.

Cautionary Statement Regarding Forward-Looking Statements:
Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient's expectations for its deleveraging activities, the timing, benefits and outcomes of those activities, as well as its future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, market position, outlook, targets, guidance or goals are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient's control, that could cause Adient's actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the effects of local and national economic, credit and capital market conditions (including the persistence of high interest rates, vehicle affordability and volatile currency exchange rates) on the global economy, work stoppages, including due to strikes, supply chain disruptions and similar events, wage inflationary pressures due to labor shortages and new labor negotiations, volatile energy markets, Adient's ability and timing of customer recoveries for increased input costs, the availability of raw materials and component products (including components required by our customers for the manufacture of vehicles), geopolitical uncertainties such as the Ukraine and Middle East conflicts and the impact on the regional and global economies and additional pressure on supply chain and vehicle production, the ability of Adient to execute its restructuring plans and achieve the desired benefit, automotive vehicle production levels, mix and schedules, as well as our concentration of exposure to certain automotive manufacturers, the ability of Adient to effectively launch new business at forecast and profitable levels, the ability of Adient to meet debt service requirements and, terms of future financing, the impact of global tax reform legislation, uncertainties in U.S. administrative policy regarding trade agreements, tariffs and other international trade relations, shifts in market shares among vehicles, vehicle segments or away from vehicles on which Adient has significant content, changes in consumer demand, global climate change and related emphasis on ESG matters by various stakeholders, and the ability of Adient to achieve its ESG-related goals, cancellation of or changes to commercial arrangements, and the ability of Adient to identify, recruit and retain key leadership. A detailed discussion of risks related to Adient's business is included in the section entitled "Risk Factors" in Adient's Annual Report on Form 10-K for the fiscal year ended September 30, 2023 filed with the U.S. Securities and Exchange Commission (the "SEC") on November 17, 2023, and in subsequent reports filed with or furnished to the SEC, available at www.sec.gov. Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Adient assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document.

In addition, this document includes certain projections provided by Adient with respect to the anticipated future performance of Adient's businesses. Such projections reflect various assumptions of Adient's management concerning the future performance of Adient's businesses, which may or may not prove to be correct. The actual results may vary from the anticipated results and such variations may be material. Adient does not undertake any obligation to update the projections to reflect events or circumstances or changes in expectations after the date of this document or to reflect the occurrence of subsequent events. No representations or warranties are made as to the accuracy or reasonableness of such assumptions, or the projections based thereon.

Use of Non-GAAP Financial Information:
This document also contains non-GAAP financial information because Adient's management believes it may assist investors in evaluating Adient's on-going operations. Adient believes these non-GAAP disclosures 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. Non-GAAP measures include Adjusted EBIT, Adjusted EBITDA, Adjusted net income, Adjusted effective tax rate, Adjusted earnings per share, Adjusted equity income, Adjusted interest expense, Free cash flow, Net debt and Net leverage. For further detail and reconciliations to their closest GAAP equivalents, please see the appendix to the earnings presentation. Reconciliations of non-GAAP measures related to FY2025 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations.

This document also contains the key performance indicator of business performance, which is defined as the difference in period-over-period Adjusted EBITDA excluding production volume/mix, equity income, foreign exchange and net commodity pricing. Management believes this key performance indicator encompasses the significant drivers of the performance of the business that are within management's ability to influence and may assist investors in evaluating Adient's on-going operations and provide important supplemental information regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider this key performance indicator as an alternative to our GAAP financial results.

ADNT-FN

 

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SOURCE Adient

FAQ

What was Adient's (ADNT) Q4 2024 net income and EPS?

Adient reported Q4 2024 GAAP net income of $79 million and earnings per share (EPS) of $0.91.

How much cash did Adient (ADNT) return to shareholders in FY2024?

Adient returned $275 million to shareholders through share repurchases during fiscal year 2024.

What is Adient's (ADNT) outlook for FY2025?

Adient expects approximately flat adjusted-EBITDA in FY2025, with business performance offsetting lower volumes and flat to improved total margins.

What was Adient's (ADNT) debt reduction in FY2024?

Adient paid down approximately $130 million in debt during fiscal year 2024.

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