Adient Reports Results For Q3 2020

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Adient Reports Results For Q3 2020

Company continues to execute actions to rightsize its business while navigating through unprecedented times.

aftermarketNews Staff
By aftermarketNews Staff
Published:

Adient, a global leader in automotive seating, today announced third quarter 2020 financial results:

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  • Impacted by COVID-19 and one-time, non-cash charges, Q3 GAAP net loss and EPS diluted of $(325)M and $(3.46) respectively; Q3 Adj.-EPS diluted of $(2.78)
  • Q3 Adj.-EBITDA of $(122)M, down $327M y-o-y (includes ~$400M impact from COVID-19); Adient’s financial results improved sequentially by month as the quarter progressed and operations in the Americas and EMEA restarted 
  • Cash and cash equivalents of $1,032M at June 30, 2020 (production restarts during the quarter resulted in a temporary trade working capital headwind, expected to unwind in Q4, of ~$500M in Q3); total liquidity at June 30, 2020 was ~$1.2B

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PHINIA Reports Q1 2024 Results

U.S. GAAP net sales were $863 million, an increase of 3.4% compared with Q1 2023, according to PHINIA.

Emma Henderson
By Emma Henderson
Emma Henderson is the Managing Editor of aftermarketNews and Counterman. She joined Babcox after a career as a television reporter for stations across the Midwest. Contact her at [email protected]
Published:

PHINIA Inc. reported results for the first quarter ended March 31, 2024.

First Quarter Highlights:

U.S. GAAP net sales of $863 million, an increase of 3.4% compared with Q1 2023.

Excluding $17 million of contract manufacturing sales, sales were up slightly compared to Q1 2023. Favorable pricing and currency were partially offset by lower commercial vehicle sales in Europe.

Read Full Article

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