Adient reports solid second quarter

United States
Published:  10 May, 2021

The U.S. automotive seating company has reported a net income of US$69 million, with cash and cash equivalents valued at US$984 million.

Adient’s adjusted EBITDA for the second quarter of 2021 totalled US$303 million, up US$92 million year-on-year.

The company has reaffirmed its 2021 financial year adjusted EBITDA of between US$1 billion and US$1.1 billion and increased macro pressures (rising commodity prices and lower volumes) combined with phasing of normal business drivers (i.e. commercial settlements and engineering spend) expected to weigh on second-half adjusted EBITDA.