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Adient: Q1 Earnings Insights

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Benzinga Insights
·1 min read
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Shares of Adient (NYSE:ADNT) moved higher by 0.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 78.12% year over year to $1.71, which beat the estimate of $0.90.

Revenue of $3,848,000,000 declined by 2.24% year over year, which missed the estimate of $3,860,000,000.

Outlook

The upcoming fiscal year's revenue expected to be between $14,600,000,000 and $15,000,000,000.

Conference Call Details

Date: Feb 05, 2021

View more earnings on ADNT

Time: 08:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/adnt/mediaframe/42903/indexr.html

Technicals

52-week high: $38.26

52-week low: $5.90

Price action over last quarter: Up 6.10%

Company Overview

Adient began trading Oct. 31, 2016, when Johnson Controls spun off its automotive experience segment into this new company. Adient is the leading seating supplier to the industry with about one third of the global market as well as a dominant share in China of about 45%. Operations in China are accounted for under the equity method so most revenue there is unconsolidated. Unconsolidated seating revenue from joint ventures totaled $9.5 billion in fiscal 2020. The company is headquartered in Ireland but has corporate offices in the Detroit area. Fiscal 2020 consolidated revenue, excluding joint venture sales, was $12.7 billion.

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