Adient Ltd (1670541) SEC Filing 10-K Annual report for the fiscal year ending Friday, September 30, 2016

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1670541 Annual Reports

Adient Ltd

CIK: 1670541
Page 1 of 15 FOR IMMEDIATE RELEASE CONTACT: Investors: Antonella Franzen (609) 720-4665 Ryan Edelman (609) 720-4545 Media: Fraser Engerman (414) 524-2733 Johnson Controls reports 2016 fiscal fourth quarter and full year earnings Company completes multi-industrial transformation CORK, Ireland, Nov. 8, 2016 -- For the fourth quarter of fiscal 2016, Johnson Controls (NYSE:JCI), reported $10.2 billion in sales, segment EBIT of $798 million and a GAAP net loss from continuing operations of $1.2 billion, which includes one month of Tyco results (merger completed Sept. 2, 2016) as well as several special items. GAAP diluted loss per share from continuing operations for the quarter was $1.61 compared to breakeven in the prior year quarter. Adjusting for special items and excluding the Tyco results, non-GAAP adjusted diluted earnings per share from continuing operations increased 16 percent to $1.21 from $1.04 in the prior year quarter. Financial highlights from continuing operations for the quarter include:  Adjusted net sales of $9.4 billion versus $8.7 billion in the prior year quarter, with the increase due primarily to incremental sales from the Johnson Controls-Hitachi joint venture.  Adjusted segment EBIT from continuing operations of $1,085 million compared with $939 million in the prior year quarter, up 16 percent, reflecting the contribution of the Hitachi joint venture and ongoing Johnson Controls Operating System benefits.  Adjusted segment EBIT margin of 11.6 percent was 90 basis points higher than the prior year quarter.  Adjusted diluted EPS of $1.21 exceeded guidance of $1.17 to $1.20.

The following information was filed by Adient Ltd on Tuesday, November 8, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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