Adient (NYSE: ADNT), a global leader in automotive seating and interiors, today announced strong second quarter earnings.
- GAAP net income and EPS diluted increased to $192 million and $2.04, respectively; adjusted-EPS diluted up 16.3% to $2.50
- Adjusted-EBIT expanded to $334M (margin of 7.9%)
- Cash and cash equivalents of $729 million at March 31, 2017
- Gross debt and net debt of $3,352 million and $2,623 million, respectively, at March 31, 2017
- Approved $250 million share repurchase program
- Guidance raised: FY2017 adjusted-EBIT now expected at $1.24 – $1.26 billion, up from $1.15 – $1.20 billion
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.
