-=Adient (ADNT) reported earnings on Fri 31 Jan 20 (b/o)

Sector: Consumer Cyclical
Industry: Auto Parts
Full Time Employees: 83,000
HQ in Dublin, Ireland.
http://www.adient.com


Adient beats by $0.62, beats on revs; reaffirms FY20 revs guidance

Reports Q1 (Dec) earnings of $0.96 per share, excluding non-recurring items, $0.62 better than the S&P Capital IQ Consensus of $0.34; revenues fell 5.3% year/year to $3.94 bln vs the $3.82 bln S&P Capital IQ Consensus.

Co reaffirms guidance for FY20, sees FY20 revs of $15.6-15.8 bln vs. $15.73 bln S&P Capital IQ Consensus.

Adient (ADNT) has entered into a definitive agreement with Yanfeng Automotive Trim Systems to make certain changes to their existing joint venture relationships. As part of these changes, Adient has agreed to sell its 30% ownership stake in YFAI to Yanfeng for US$379 mln. Adient and Yanfeng have also agreed to extend the term of their YFAS joint venture to December 31, 2038. In addition, Adient has agreed to sell certain patents and other intellectual property exclusively used in its seating mechanisms business to AYM for US$20 mln, and AYM will license such intellectual property back to Adient.