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Adient(ADNT) - 2025 Q2 - Quarterly Results
ADNTAdient(ADNT)2025-05-07 10:55

Financial Performance - Q2 FY2025 revenue was 3.611billion,adecreaseof43.611 billion, a decrease of 4% compared to Q2 FY2024, primarily due to lower customer volume in Europe[2] - Adjusted EBITDA for Q2 FY2025 was 233 million, up 3% year-over-year, with an adjusted EBITDA margin of 6.5%, an increase of 40 basis points from Q2 FY2024[3] - The company reported a GAAP net loss of 335millionforQ2FY2025,includinga335 million for Q2 FY2025, including a 333 million non-cash goodwill impairment[7] - In Q2 FY2025, adjusted EPS was 0.69,reflectingan180.69, reflecting an 18% increase compared to the prior year[2] - Net loss attributable to Adient for Q1 2025 was 335 million, compared to a net loss of 70millioninQ12024,indicatingasignificantdeclineinprofitability[21]−Thecompany’sdilutedlosspershareforQ12025was70 million in Q1 2024, indicating a significant decline in profitability[21] - The company’s diluted loss per share for Q1 2025 was (3.99), compared to (0.77)inQ12024,reflectingworseningfinancialperformance[30]−NetlossforQ12025was(0.77) in Q1 2024, reflecting worsening financial performance[30] - Net loss for Q1 2025 was 313 million, compared to a net loss of 49millioninQ12024,representingasignificantincreaseinlosses[33]−AdjustednetincomeattributabletoAdientwas49 million in Q1 2024, representing a significant increase in losses[33] - Adjusted net income attributable to Adient was 58 million in Q1 2025, compared to 49millioninQ12024,showingan18.449 million in Q1 2024, showing an 18.4% increase[34] Revenue Outlook - Adient maintains its FY2025 revenue outlook at approximately 13.9 billion and adjusted EBITDA at around 850million,withnochangesfrompreviousguidance[14]CashFlowandDebt−Adient′scashandcashequivalentstotaled850 million, with no changes from previous guidance[14] Cash Flow and Debt - Adient's cash and cash equivalents totaled 754 million as of March 31, 2025, with gross debt at approximately 2.4billion[11]−Cashprovidedbyoperatingactivitieswasnegativeat2.4 billion[11] - Cash provided by operating activities was negative at (45) million for Q1 2025, a decline from positive cash flow of 81millioninQ12024[25]−Cashandcashequivalentsdecreasedto81 million in Q1 2024[25] - Cash and cash equivalents decreased to 754 million as of March 31, 2025, down from 945millionasofSeptember30,2024[23]−NetdebtasofMarch31,2025,was945 million as of September 30, 2024[23] - Net debt as of March 31, 2025, was 1,642 million, an increase from 1,460millionasofSeptember30,2024[40]−Thenetleverageratioincreasedto1.90asofMarch31,2025,comparedto1.66asofSeptember30,2024[40]SegmentPerformance−TheAmericassegmentreportedadjustedEBITDAof1,460 million as of September 30, 2024[40] - The net leverage ratio increased to 1.90 as of March 31, 2025, compared to 1.66 as of September 30, 2024[40] Segment Performance - The Americas segment reported adjusted EBITDA of 94 million in Q2 FY2025, up from 80millioninQ2FY2024,drivenbypositivevolumeandmix[8]−TheAmericassegmentreportednetsalesof80 million in Q2 FY2024, driven by positive volume and mix[8] - The Americas segment reported net sales of 1,699 million, while EMEA and Asia reported 1,231millionand1,231 million and 707 million, respectively[28] Operational Challenges - Restructuring and impairment costs surged to 351millioninQ12025,comparedto351 million in Q1 2025, compared to 125 million in Q1 2024, highlighting increased operational challenges[21] - The company recorded a goodwill impairment charge of $333 million during the three months ended March 31, 2025[41] Investments and Awards - Adient's China Technical Center expansion in Chongqing represents a significant investment in long-term growth and product innovation[4] - The company received multiple awards, including the Best Supplier Award for ESG Management from Hyundai Motor Group, highlighting its commitment to operational excellence[6]