Adient: Fiscal 3Q Earnings Snapshot
DUBLIN (AP) _ Adient PLC (ADNT) on Tuesday reported a fiscal third-quarter loss of $321 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Dublin-based company said it had a loss of $3.43. Earnings, adjusted for pretax expenses and non-recurring costs, were 38 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The automotive seating and interiors supplier posted revenue of $4.22 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $4.1 billion.
Adient expects full-year revenue in the range of $16.5 billion to $16.7 billion.
Adient shares have risen 28% since the beginning of the year. The stock has decreased 59% in the last 12 months.