Benzinga | Aug 5, 2021 08:03AM EDT

Recap: Adient Q3 Earnings



Shares of Adient (NYSE:ADNT) remained unaffected after the company reported Q3 results.

Quarterly Results

Earnings per share were up 80.94% over the past year to ($0.53), which missed the estimate of $0.22.

Revenue of $3,242,000,000 higher by 99.38% from the same period last year, which missed the estimate of $3,450,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: Aug 05, 2021

Time: 08:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/adnt/mediaframe/45830/indexr.html

Price Action

Company's 52-week high was at $53.16

52-week low: $15.00

Price action over last quarter: down 19.25%

Company Description

Adient began trading Oct. 31, 2016, when Johnson Controls spun off its automotive experience segment into this new company. Adient is the leading seating supplier to the industry with about one third of the global market as well as a dominant share in China of about 45% which should decline after Adient sells its main Chinese joint venture in calendar 2021. Operations in China are for now accounted for under the equity method so most revenue there is unconsolidated. Unconsolidated seating revenue from joint ventures totaled $9.5 billion in fiscal 2020. The company is headquartered in Ireland but has corporate offices in the Detroit area. Fiscal 2020 consolidated revenue, excluding joint venture sales, was $12.7 billion.