Adient Plc (ADNT) 10-Q Quarterly Report May 2018

RECENT HIGHLIGHTS ADIENT / FISCAL SECOND QUARTER 2018 EARNINGS / 1 Adient reports second quarter 2018 financial results > Q2 GAAP net income and EPS diluted of $(168)M and $(1.80), respectively; GAAP results reflect a net $279M non-cash goodwill impairment charge related to ADNT’s SS&M segment > Q2 Adjusted-EBIT and Adjusted-EBITDA of $252M and $363M, respectively > Q2 Adjusted-EPS diluted of $1.85 > Cash and cash equivalents of $353M at March 31, 2018 > Gross debt and net debt totaled $3,678M and $3,325M, respectively, at March 31, 2018 “We expect profitability for the SS&M business to progress back to pre-spin levels, providing significant improvement compared with our FY18 outlook. Beyond 2020, fundamental changes to the business will be necessary to ensure appropriate financial returns are achieved.” R. Bruce McDonald, Chairman and Chief Executive Officer ADJ. EBIT $252M -24% AS ADJUSTED vs. Q2 17 ADJ. EBITDA $363M -14% ADJ. NET INCOME attributable to Adient $173M -26% FY 2018 Q2 RESULTS OVERVIEW REVENUE $4,596MAS REPORTED EBIT $(134)M NET INCOME attributable to Adient $(168)M $(1.80) EPS DILUTED ADJ. EPS DILUTED $1.85 -25% Adient and Boeing showcased a portfolio of jointly developed business class seat prototypes for the planned Adient Aerospace joint venture at the Aircraft Interiors Expo in Hamburg, Germany. Adient’s revised financial outlook for the SS&M business will prevent the company from achieving its 2020 margin expansion objectives. During Q2, Adient reorganized certain elements of its management structure which resulted in a realignment of its reportable segments (Seating, Seat Structures & Mechanisms (SS&M), and Interiors) and also began to assess the performance of its segments using Adjusted-EBITDA. Unconsolidated Seating (incl. SS&M) revenue increased to $2.3B in Q2; Seating equity income of $81M, up 9% excl. FX and impact of JV consolidation. FY 2018 SECOND QUARTER EARNINGS For non-GAAP and adjusted results, see appendix for detail and reconciliation to U.S. GAAP N/M – not a meaningful comparison due to one-time special items May 3, 2018 +9%vs. Q2 17 N/M N/M N/M

The following information was filed by Adient Plc (ADNT) on Thursday, May 3, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Adient Plc provided additional information to their SEC Filing as exhibits

Exhibit 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 4.2: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 4.3: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 4.4: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 4.5: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 4.6: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.1: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: ADNT
CIK: 1670541
Form Type: 10-Q Quarterly Report
Accession Number: 0001670541-18-000019
Submitted to the SEC: Mon May 07 2018 4:42:36 PM EST
Accepted by the SEC: Mon May 07 2018
Period: Saturday, March 31, 2018
Industry: Motor Vehicle Parts And Accessories