U.S. Markets open in 2 hrs 26 mins

Adient beats Street 4Q forecasts

DUBLIN (AP) _ Adient PLC (ADNT) on Thursday reported fiscal fourth-quarter net income of $344 million, after reporting a loss in the same period a year earlier.

The Dublin-based company said it had net income of $3.67 per share. Earnings, adjusted for one-time gains and costs, were $2.34 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.21 per share.

The automotive seating and interiors supplier posted revenue of $3.98 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $3.87 billion.

For the year, the company reported net income of $877 million, or $9.34 per share, swinging to a profit in the period. Revenue was reported as $16.21 billion.

Adient shares have increased 45 percent since the beginning of the year.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADNT at https://www.zacks.com/ap/ADNT