Adient (ADNT) Q3 Earnings and Revenues Miss Estimates

Company Performance - Adient reported quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of$ 0.67 per share, and down from $0.98 per share a year ago, representing an earnings surprise of -52.24% [1] - The company posted revenues of$ 3.72 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.53%, and down from $4.06 billion year-over-year [1] - Over the last four quarters, Adient has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [1] Stock Performance - Adient shares have declined approximately 37.2% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [2] - The current Zacks Rank for Adient is 5 (Strong Sell), indicating expectations of underperformance in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is$ 0.62 on revenues of $3.54 billion, and for the current fiscal year, it is$ 2.14 on revenues of $14.77 billion [4] - The trend for estimate revisions ahead of the earnings release was unfavorable, which may impact future stock performance [4] Industry Context - The Automotive - Original Equipment industry, to which Adient belongs, is currently ranked in the bottom 14% of over 250 Zacks industries, suggesting a challenging environment [5] - Strattec Security, another company in the same industry, is expected to report quarterly earnings of$ 0.38 per share, reflecting a year-over-year decline of 24%, with revenues projected at $141.51 million, up 7% from the previous year [5]