Adient Reports Solid Q1 Results Despite Production Challenges

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Adient Reports Solid Q1 Results Despite Production Challenges

Transformational change to the company's capital structure underway, underpinned by accelerated debt repayment.

aftermarketNews Staff
By aftermarketNews Staff
Published:

Adient, a global leader in automotive seating, has announced second quarter 2021 financial results.

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The company reported second quarter GAAP net income and EPS diluted of $69 million and $0.72, respectively. The company also reported second quarter adjusted EPS diluted of $1.15.

Cash and cash equivalents of $984 million were reported as of March 31, 2021. Cash used during the quarter to voluntarily pay down debt totaled ~$700 million. 

Subsequent to the quarter, Adient amended and extended its Term Loan B and exercised an early redemption option on the company’s 7.00% senior first lien notes due 2026.

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