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Adient Q2 Earnings Beat Estimates, Guidance Revised

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Adient (NYSE: ADNT) reported adjusted earnings per share (ETF:EPS) of 54 cents for the second quarter of fiscal 2024. Earnings rose from 32 cents recorded in the year-ago period and outpaced the Zacks Consensus Estimate of 39 cents.

The company generated net sales of $3.75 billion, which decreased 4.1% year over year and missed the Zacks Consensus Estimate of $3.83 billion.

Adient Price, Consensus and EPS Surprise

Adient Price, Consensus and EPS Surprise

Adient price-consensus-eps-surprise-chart | Adient Quote

Segmental Performance

Adient currently operates through three reportable segments — Americas, including North America and South America; Europe, which includes the Middle East and Africa (EMEA); and Asia Pacific/China (Asia).
In the reported quarter, the Americas segment recorded revenues of $1.66 billion, which declined 5.7% from the year-ago period and missed the Zacks Consensus Estimate of $1.80 billion. The segment recorded an adjusted EBITDA of $80 million, which increased from $72 million recorded in the prior-year quarter and beat the Zacks Consensus Estimate of $75 million, driven …

Full story available on Benzinga.com

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