Adient Q1 Preliminary Adj. EBITDA Improves; Expects Annual Earnings To Rise

(RTTNews) - Adient Plc (ADNT), an automotive seating company, on Monday reported a rise in preliminary adjusted EBITDA for the first-quarter. 

According to its preliminary estimates, Adient posted adjusted EBITDA of around $215 million, higher than $212 million registered for the same period last year.

Preliminary revenue stood at around $3.7 billion, or about flat, year-over-year.    On average, seven analysts polled by Thomson Reuters projected the firm to record revenue of $3.72 billion, for the quarter. Analysts' estimates typically exclude special items. 

Jerome Dorlack, CEO of Adient, said: "We continue to expect improved earnings and margin in FY24 vs. FY23."

Adient is scheduled to release its first-quarter results on February 7.