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Recap: Adient Q4 Earnings

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Benzinga Insights
·1 min read
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Shares of Adient (NYSE:ADNT) moved higher by 8.9% in pre-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were up 82.54% year over year to $1.15, which beat the estimate of $0.71.

Revenue of $3,597,000,000 declined by 8.26% from the same period last year, which missed the estimate of $3,610,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Adient hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Nov 30, 2020

View more earnings on ADNT

Time: 08:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/adnt/mediaframe/41392/indexr.html

Price Action

Company's 52-week high was at $32.97

52-week low: $5.90

Price action over last quarter: Up 126.93%

Company Description

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 revenue there is unconsolidated. Unconsolidated seating and interiors revenue from joint ventures totaled $15.6 billion in fiscal 2019. The company is headquartered in Ireland but has corporate offices in the Detroit area. Fiscal 2019 consolidated revenue, excluding joint venture sales, was $16.5 billion.

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