Workflow
Adient (ADNT) Reports Q1 Earnings: What Key Metrics Have to Say
ADNTAdient(ADNT) Zacks Investment Research·2024-02-07 15:47

Core Insights - Adient reported 3.66billioninrevenueforthequarterendedDecember2023,ayear−over−yeardeclineof1.13.66 billion in revenue for the quarter ended December 2023, a year-over-year decline of 1.1% [1] - The EPS for the same period was 0.31, down from 0.34ayearago[1]−RevenuefellshortoftheZacksConsensusEstimateof0.34 a year ago [1] - Revenue fell short of the Zacks Consensus Estimate of 3.72 billion, resulting in a surprise of -1.50% [1] - The company experienced an EPS surprise of -34.04%, with the consensus EPS estimate being 0.47[1]PerformanceMetrics−NetSalesinAsiawere0.47 [1] Performance Metrics - Net Sales in Asia were 770 million, compared to an estimated 844.49million,reflectingayear−over−yeardeclineof−6.2844.49 million, reflecting a year-over-year decline of -6.2% [2] - Net Sales from Eliminations were reported at -25 million, better than the estimated -32.69million,withayear−over−yearchangeof−10.732.69 million, with a year-over-year change of -10.7% [2] - Net Sales in America reached 1.65 billion, slightly above the estimated 1.64billion,showingayear−over−yeardeclineof−4.51.64 billion, showing a year-over-year decline of -4.5% [2] - Net Sales in EMEA were 1.27 billion, exceeding the estimated $1.25 billion, with a year-over-year increase of +7.3% [2] Stock Performance - Adient shares returned +4.7% over the past month, compared to the Zacks S&P 500 composite's +5.6% change [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]