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Automotive Aftermarket Manufacturing

Adient Reports Strong Second Quarter 2017 Results

The company also has increased its full-year earnings expectations.

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Adient, a global leader in automotive seating and interiors, has announced strong second quarter earnings.

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GAAP net income and EPS diluted increased to $192 million and $2.04, respectively. Adjusted-EPS diluted was up 16.3 percent to $2.50.

The company reported that Adjusted-EBIT expanded to $334 million (margin of 7.9%). Gross debt and net debt were $3,352 million and $2,623 million, respectively, as of March 31, 2017.

The company also approved $250 million share repurchase program

Full year 2017 guidance has been raised: adjusted-EBIT is now expected at $1.24 billion to $1.26 billion, up from $1.15 billion to $1.20 billion.

 

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