Adient, a global leader in automotive seating, today announced fourth quarter 2020 financial results.
The company reported the following highlights:
- Impacted by one-time, non-cash charges, Q4 GAAP net loss and EPS diluted of $(36)M and $(0.38) respectively; Q4 Adj.-EPS diluted of $1.15;
- Q4 Adj.-EBIT and Adj.-EBITDA of $199M and $287M, respectively; Q4 Adj.-EBITDA up 33% y-o-y despite an 8% decrease in revenue (Q4 revenue impacted by lower y-o-y global production volumes and Adient specific launches);
- Cash and cash equivalents of $1,692M at Sept. 30, 2020; total liquidity ~$2.5B at Sept. 30, 2020; and
- Gross debt and net debt totaled $4,307M and $2,615M, respectively, at Sept. 30, 2020; the company voluntarily began to repay a portion of its debt in Q4 ($103.5M in principal using $99.8M in cash).
