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Adient plc (NYSE: ADNT) is a global leader in the automotive seating market, commanding one-third of this $60 billion industry. With headquarters in Ireland and operational offices in the Detroit area, Adient boasts a workforce of approximately 75,000 employees spread across 230 locations in 33 countries. The company generates an impressive $20 billion in consolidated annual revenues by delivering 25 million seating systems utilized in over 360 vehicle nameplates worldwide.
Adient's journey began on October 31, 2016, following the spinoff of Johnson Controls' automotive experience segment. The company quickly established itself as a dominant player in the automotive seating sector. Despite a reduction in its market share in China from nearly 45% to approximately 20%, resulting from the sale of its main joint venture in fiscal 2021, Adient continues to thrive. In fiscal 2023, unconsolidated seating revenue from joint ventures was $3.8 billion, while consolidated China revenue stood at $1.4 billion.
Adient’s product range encompasses complete seating systems to individual components, with a focus on innovation, quality, and customer satisfaction. By leveraging its integrated, in-house skills, Adient manages the entire seat-making process from research and design to engineering and manufacturing, securing its presence in millions of vehicles each year.
The company's recent achievements include strong financial results for Q4 2023 and Q1 2024. Adient announced Q4 2023 GAAP net income of $135 million and EPS diluted of $1.42, with an adjusted EBITDA of $235 million. Q1 2024 saw GAAP net income of $20 million and EPS diluted of $0.21, alongside an adjusted EBITDA of $216 million. Adient also executed $100 million of share repurchases in Q1 2024, retiring approximately 3 million shares.
Adient’s leadership team has seen recent changes, with Jerome Dorlack taking on the roles of President and CEO, and Mark Oswald as the CFO. The company continues to focus on financial stability, innovation, and strategic growth, participating in various investor conferences and providing regular updates on its performance and future outlook.
Adient is committed to maintaining its leadership position in the automotive seating market, continuously aiming to improve earnings and margins in upcoming fiscal years. The company remains poised for further expansion and success, driven by its robust financial health and strategic initiatives.
Adient (NYSE: ADNT), a global leader in automotive seating, has announced its participation in the upcoming J.P. Morgan Auto Conference on Thursday, August 8, 2024. The company's president and CEO, Jerome Dorlack, along with executive vice president and CFO, Mark Oswald, will engage in a fireside chat at 10:15 am Eastern Time. Investors and interested parties can access a live webcast of the discussion through the investor section of Adient's official website.
Adient (NYSE: ADNT), a global leader in automotive seating, has announced that it will host a conference call on August 6, 2024, at 8:30 a.m. (ET) to discuss its third quarter fiscal 2024 financial results. The company will provide a live webcast of the call and presentation materials on its Investor Relations website. Investors can participate via telephone by dialing 888-455-2945 (U.S.) or 773-799-3947 (international) 15 minutes before the call starts, using the conference passcode ADIENT. A replay of the call will be available on the company's website for those unable to join live.
Adient, a leading automotive seating company, reported strong Q2 2024 financial results with $227M in Q2 Adj.-EBITDA, up $12M year-over-year. Despite a GAAP net loss, the company executed $50M in share repurchases, retiring ~1.5M shares in the quarter. Adient updated its FY24 outlook due to slow launches and softer electric vehicle production in the Americas and EMEA.
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