Adient, a global leader in automotive seating, announced third quarter earnings.
- Q3 GAAP net income and EPS diluted of USD 54 million and USD 0.58, respectively
- Q3 Adjusted-EBIT and Adjusted-EBITDA of USD 206 million and USD 319 million, respectively
- Q3 Adjusted-EPS diluted of USD 1.45
- Q3 free cash flow of USD 252 million; the launch and initial sale of an accounts receivable financing facility provided an approximate USD 94 million benefit to free cash flow
- Gross debt and net debt of USD 3,439 million and USD 3,061 million, respectively, at June 30, 2018
“We are moving forward with great urgency to accelerate the pace of our operational Adient is a global leader in automotive seating. With 85,000 employees operating in 238 manufacturing/assembly plants in 34 countries worldwide, we produce and deliver automotive seating for all vehicle classes and all major OEMs. From complete seating systems to individual components, our expertise spans every step of the automotive seat-making process. Our integrated, in-house skills allow us to take our products from research and design all the way to engineering and manufacturing – and into more than 25 million vehicles every year improvements,” states Fritz Henderson, Interim Chief Executive Officer.