Adient Reports Strong Finish For Q4, FY 2020

Adient Reports Strong Finish For Q4, FY 2020

Company enters FY21 with positive momentum that is expected to drive earnings and cash flow growth in FY21.

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).

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