Adient (ADNT) Misses Q3 EPS by 70c, Revenues Beat; Offers FY20 Revenue Mid-Point Guidance Above Consensus
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Adient reports third quarter 2020 financial results
August 6, 2020 6:50 AM EDTPLYMOUTH, Mich., Aug. 6, 2020 /PRNewswire/ -- Adient (NYSE: ADNT), a global leader in automotive seating, today announced third quarter 2020 financial results.
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... More