Adient: Overview of Fiscal First Quarter Earnings
Adient Reports First Quarter Financial Results
Adient PLC, headquartered in Dublin, announced on Wednesday that it recorded a net loss of $22 million for its fiscal first quarter.
The company reported a loss of 28 cents per share. However, after adjusting for restructuring and pretax charges, earnings stood at 35 cents per share.
These adjusted earnings surpassed analyst expectations, as a consensus of four analysts polled by Zacks Investment Research had projected earnings of 20 cents per share.
The automotive seating and interiors manufacturer generated $3.64 billion in revenue during the quarter, exceeding the $3.48 billion anticipated by analysts surveyed by Zacks.
Since the start of the year, Adient’s stock price has increased by nearly 10%, and over the past year, shares have gained 28%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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