Adient PLC

ADNT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$87.00	Xcngr	Qxbztclyp

Adient Earnings: Europe Spoils An Otherwise Decent Quarter

David Whiston

Aug 6, 2024

Adient’s fiscal 2024 third quarter results saw a revenue guidance cut for the year to about $14.6 billion, from $14.8-$14.9 billion, on low customer production in Europe. Adjusted EBITDA for the year is now guided at about $870 million down from a midpoint of $910 million. Third quarter adjusted diluted EPS of $0.32 missed the $0.64 LSEG consensus and declined year-over-year by 67.3%. We don’t see any reason to think our long term profit projections are in jeopardy, and the time value of money in our model offset the lower guidance, thus we are leaving our fair value estimate in place.

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