Adient, a global provider of automotive seating, has announced fourth quarter earnings.
The company reported that GAAP results were impacted by one-time, non-cash charges. Adient saw fourth quarter GAAP net loss and EPS diluted of $(1,355) million and $(14.51), respectively; fourth quarter Adjusted-EPS diluted of $1.30.
The company reported Adjusted-EBIT and Adjusted-EBITDA of $149 million and $251 million, respectively. Adient also announced fourth quarter free cash flow of $307 million. The company said the expansion of an accounts receivable financing facility initiated in the third quarter provided an approximate $48 million benefit to free cash flow.
Gross debt and net debt of $3,430 million and $2,743 million, respectively, were reported as of Sept. 30, 2018.
