Robust begin to the 12 months lays a agency basis for the corporate to ship on its FY21 commitments, which embody earnings and money stream development and accelerated debt compensation
PLYMOUTH, Mich., Feb. 5, 2021 /PRNewswire/ — Adient (NYSE: ADNT), a worldwide chief in automotive seating, at this time introduced first quarter 2021 monetary outcomes.
Q1 GAAP internet revenue and EPS diluted of $150M and $1.58 respectively; Q1 Adj.-EPS diluted of $1.71
Q1 Adj.-EBITDA of $378M, up $81M y-o-y; Q1 Adj. EBITDA margin of 9.8%, up 228 bps y-o-y
Money and money equivalents of $1,820M at Dec. 31, 2020; complete liquidity at Dec. 31, 2020, was ~$2.8B
Adient issued its 2020 Sustainability Report — highlighting the corporate’s dedication to working its enterprise in an environmentally accountable method
For full particulars and to see reconciliations of non-GAAP measures to their most immediately comparable GAAP measures, go to the occasions part of the Adient investor web site at www.investors.adient.com/events-and-presentations/events to obtain the total press launch and earnings presentation.
Investor analyst convention name:
Adient’s president and chief government officer, Douglas Del Grosso, and government vice chairman and chief monetary officer, Jeff Stafeil, will host a convention name at this time at 8:30 a.m. Jap to debate the outcomes. To take part by phone, please dial 800-779-1454 (U.S.) or 312-470-7220 (worldwide) quarter-hour previous to the beginning time of the decision and ask to be related to the Adient convention name. The convention passcode is ADIENT.
Adient (NYSE: ADNT) is a worldwide chief in automotive seating. With roughly 77,000 staff in 32 international locations, Adient operates 202 manufacturing/meeting crops worldwide. We produce and ship automotive seating for all main OEMs. From full seating methods to particular person parts, our experience spans each step of the automotive seat-making course of. Our built-in, in-house abilities permit us to take our merchandise from analysis and design to engineering and manufacturing — and into greater than 19 million automobiles yearly. For extra info on Adient, please go to www.adient.com.
Cautionary Assertion Concerning Ahead-Trying Statements:
Adient has made statements on this doc which might be forward-looking and, subsequently, are topic to dangers and uncertainties. All statements on this doc aside from statements of historic reality are statements which might be, or could possibly be, deemed “forward- wanting statements” throughout the which means of the Personal Securities Litigation Reform Act of 1995. On this doc, statements relating to Adient’s future monetary place, gross sales, prices, earnings, money flows, different measures of outcomes of operations, capital expenditures or debt ranges and plans, targets, market place, outlook, targets, steering or targets are forward-looking statements. Phrases comparable to “could,” “will,” “anticipate,” “intend,” “estimate,” “anticipate,” “imagine,” “ought to,” “forecast,” “undertaking” or “plan” or phrases of comparable which means are additionally typically supposed to determine forward-looking statements. Adient cautions that these statements are topic to quite a few necessary dangers, uncertainties, assumptions and different elements, a few of that are past Adient’s management, that would trigger Adient’s precise outcomes to vary materially from these expressed or implied by such forward-looking statements, together with, amongst others, dangers associated to: the continued monetary and operational impacts of and uncertainties referring to the COVID-19 pandemic on Adient and its clients, suppliers, three way partnership companions and different events, the flexibility of Adient to execute its turnaround plan, the flexibility of Adient to successfully launch new enterprise at forecast and worthwhile ranges, the flexibility of Adient to satisfy debt service necessities, the phrases of financing, the influence of tax reform laws via the Tax Cuts and Jobs Act and/ or beneath a brand new U.S. presidential administration, uncertainties in U.S. administrative coverage relating to commerce agreements, tariffs and different worldwide commerce relations together with as could also be impacted by the change in U.S. presidential administration, basic financial and enterprise situations, the power of the U.S. or different economies, automotive automobile manufacturing ranges, combine and schedules, modifications in shopper demand, work stoppages and related occasions, world local weather change and associated emphasis on ESG issues by varied stakeholders, vitality and commodity costs, the supply of uncooked supplies and part merchandise, foreign money trade charges and cancellation of or modifications to industrial preparations, and the flexibility of Adient to determine, recruit and retain key management. An in depth dialogue of dangers associated to Adient’s enterprise is included within the part entitled “Danger Elements” in Adient’s Annual Report on Type 10-Okay for the fiscal 12 months ended September 30, 2020 filed with the SEC on November 30, 2020, and in subsequent stories filed with or furnished to the SEC, accessible at www.sec.gov. Potential buyers and others ought to take into account these elements in evaluating the forward-looking statements and mustn’t place undue reliance on such statements. The forward-looking statements included on this doc are made solely as of the date of this doc, except in any other case specified, and, besides as required by legislation, Adient assumes no obligation, and disclaims any obligation, to replace such statements to replicate occasions or circumstances occurring after the date of this doc.
As well as, this doc consists of sure projections offered by Adient with respect to the anticipated future efficiency of Adient’s companies. Such projections replicate varied assumptions of Adient’s administration in regards to the future efficiency of Adient’s companies, which can or could not show to be right. The precise outcomes could range from the anticipated outcomes and such variations could also be materials. Adient doesn’t undertake any obligation to replace the projections to replicate occasions or circumstances or modifications in expectations after the date of this doc or to replicate the prevalence of subsequent occasions. No representations or warranties are made as to the accuracy or reasonableness of such assumptions or the projections primarily based thereon.
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