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Adient's (ADNT) Q4 Earnings Beat Estimates, Revenues Up
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Adient plc (ADNT - Free Report) reported fourth-quarter fiscal 2018 adjusted earnings per share of $1.30, beating the Zacks Consensus Estimate of $1.26. The bottom-line figure in the year-ago quarter was $2.32 per share. In fiscal 2018, the company reported adjusted earnings per share of $5.62.
During the quarter under review, Adient reported net sales of $4.15 billion, up 4% from fourth-quarter fiscal 2017. Further, the top line beat the Zacks Consensus Estimate of $4.12 billion. During the reported quarter, gains generated from the Futuris acquisition and increased volume aided revenue growth. In fiscal 2018, the company reported revenues of $17.4 billion, up from the fiscal 2017 figure of $16.2 billion.
During the quarter under review, net loss attributed to Adient was $1.36 billion against the net income of $344 million in fourth-quarter fiscal 2017.
During the reported quarter, the Seating segment of the company reported net sales of $3.75 billion, up from $3.61 billion in fourth-quarter fiscal 2017.
Adjusted EBITDA for this segment amounted to $301 million, down from $403 million in fourth-quarter fiscal 2017.
The Seat Structures & Mechanisms (SS&M) segment reported revenues of $705 million, up from $670 million in the prior-year quarter. Adjusted EBITDA for this segment amounted to negative $34 million against $4 million in fourth-quarter fiscal 2017.
Financials
Adient had cash and cash equivalents of $687 million as of Sep 30, 2018, compared with $709 million as of Sep 30, 2017.
As of the same date, net debt amounted to $2.7 billion, down from $2.8 billion as of Sep 30, 2017.
Zacks Rank & Key Picks
Currently, Adient has a Zacks Rank #5 (Strong Sell).
A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Advance Auto Parts, Inc. (AAP - Free Report) and AutoZone, Inc. (AZO - Free Report) . While Allison Transmission sports a Zacks Rank #1 (Strong Buy), both Advance Auto Parts and AutoZone carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 10%.
Advance Auto Parts has an expected long-term growth rate of 12.3%. Over the past six months, shares of the company have risen 37.3%.
AutoZone has an expected long-term growth rate of 12.2%. Over the past six months, shares of the company have risen 19%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Adient's (ADNT) Q4 Earnings Beat Estimates, Revenues Up
Adient plc (ADNT - Free Report) reported fourth-quarter fiscal 2018 adjusted earnings per share of $1.30, beating the Zacks Consensus Estimate of $1.26. The bottom-line figure in the year-ago quarter was $2.32 per share. In fiscal 2018, the company reported adjusted earnings per share of $5.62.
During the quarter under review, Adient reported net sales of $4.15 billion, up 4% from fourth-quarter fiscal 2017. Further, the top line beat the Zacks Consensus Estimate of $4.12 billion. During the reported quarter, gains generated from the Futuris acquisition and increased volume aided revenue growth. In fiscal 2018, the company reported revenues of $17.4 billion, up from the fiscal 2017 figure of $16.2 billion.
During the quarter under review, net loss attributed to Adient was $1.36 billion against the net income of $344 million in fourth-quarter fiscal 2017.
Adient PLC Price, Consensus and EPS Surprise
Adient PLC Price, Consensus and EPS Surprise | Adient PLC Quote
Quarter in Detail
During the reported quarter, the Seating segment of the company reported net sales of $3.75 billion, up from $3.61 billion in fourth-quarter fiscal 2017.
Adjusted EBITDA for this segment amounted to $301 million, down from $403 million in fourth-quarter fiscal 2017.
The Seat Structures & Mechanisms (SS&M) segment reported revenues of $705 million, up from $670 million in the prior-year quarter. Adjusted EBITDA for this segment amounted to negative $34 million against $4 million in fourth-quarter fiscal 2017.
Financials
Adient had cash and cash equivalents of $687 million as of Sep 30, 2018, compared with $709 million as of Sep 30, 2017.
As of the same date, net debt amounted to $2.7 billion, down from $2.8 billion as of Sep 30, 2017.
Zacks Rank & Key Picks
Currently, Adient has a Zacks Rank #5 (Strong Sell).
A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Advance Auto Parts, Inc. (AAP - Free Report) and AutoZone, Inc. (AZO - Free Report) . While Allison Transmission sports a Zacks Rank #1 (Strong Buy), both Advance Auto Parts and AutoZone carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 10%.
Advance Auto Parts has an expected long-term growth rate of 12.3%. Over the past six months, shares of the company have risen 37.3%.
AutoZone has an expected long-term growth rate of 12.2%. Over the past six months, shares of the company have risen 19%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>