PLYMOUTH, Mich., Nov. 7, 2019 – Adient (NYSE: ADNT), a global leader in automotive seating, today announced fourth quarter and full-year 2019 financial results.
- Impacted by one-time, non-cash charges, Q4 GAAP net loss and EPS diluted of $(4) million and $(0.04), respectively; Q4 Adj.-EPS diluted of $0.63
- Q4 Adj.-EBIT and Adj.-EBITDA of $138 million and $215 million, respectively
- Full-year Adj.-EBITDA of $787 million (turnaround actions in Americas and EMEA drove improved second-half results versus first-half, despite weaker than expected market conditions in China)
- Cash and cash equivalents of $924 million at Sept. 30, 2019
- Gross debt and net debt totaled $3,738 million and $2,814 million, respectively, at Sept. 30, 2019
For complete details and to see reconciliations of non-GAAP measures to their most directly comparable GAAP measures, visit the events section of the Adient investor website at www.investors.adient.com/events-and-presentations/events to download the full press release and earnings presentation.
Investor analyst conference call:
Adient’s president and chief executive officer, Douglas Del Grosso 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.
