Adient plc (ADNT - Free Report) reported third-quarter fiscal 2018 earnings per share of $1.45, lagging the Zacks Consensus Estimate of $1.56. The bottom-line figure in the year-ago quarter was $2.49 per share.
During the quarter under review, the company reported net sales of $4.5 billion, up 12% from that of third-quarter fiscal 2017. Also, the top line beat the Zacks Consensus Estimate of $4.3 billion. During the reported quarter, gains generated from Futuris acquisition, China JV consolidation and foreign exchange positive aided revenue growth.
During the quarter under review, net income attributed to Adient was $54 million compared with the net income of $201 million in third-quarter fiscal 2017.
Quarter in Details
During the reported quarter, the Seating segment of the company reported net sales of $4 billion, up from $3.6 billion in third-quarter fiscal 2017.
Adjusted EBITDA of this segment amounted to $344 million, down from $413 million in third-quarter fiscal 2017.
The Seat Structures & Mechanisms (“SS&M”) segment reported revenues of $783 million, up from $713 million in the prior-year quarter. Adjusted EBITDA of this segment amounted to negative $26 million compared with a negative $39 million in third-quarter fiscal 2017.
Financials
Adient had cash and cash equivalents of $378 million as of Jun 30, 2018, compared with $709 million as of Sep 30, 2017.
As of the same date, net debt amounted to $3.1 billion, up from $2.8 billion as of Sep 30, 2017.
Fiscal 2018 Outlook
For fiscal 2018, the company anticipates revenues of around $17.5 billion, up from the prior guidance of $17-$17.2 billion. Adjusted EBITDA is likely to be around $1.25 billion, down from the earlier guidance of $1.40-$1.45 billion.
Zacks Rank & Key Picks
Currently, Adient has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) , AB Volvo (VLVLY - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 7.3%.
AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 2.3%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 30.2% over the past year.
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Adient plc (ADNT - Free Report) reported third-quarter fiscal 2018 earnings per share of $1.45, lagging the Zacks Consensus Estimate of $1.56. The bottom-line figure in the year-ago quarter was $2.49 per share.
During the quarter under review, the company reported net sales of $4.5 billion, up 12% from that of third-quarter fiscal 2017. Also, the top line beat the Zacks Consensus Estimate of $4.3 billion. During the reported quarter, gains generated from Futuris acquisition, China JV consolidation and foreign exchange positive aided revenue growth.
During the quarter under review, net income attributed to Adient was $54 million compared with the net income of $201 million in third-quarter fiscal 2017.
Quarter in Details
During the reported quarter, the Seating segment of the company reported net sales of $4 billion, up from $3.6 billion in third-quarter fiscal 2017.
Adjusted EBITDA of this segment amounted to $344 million, down from $413 million in third-quarter fiscal 2017.
The Seat Structures & Mechanisms (“SS&M”) segment reported revenues of $783 million, up from $713 million in the prior-year quarter. Adjusted EBITDA of this segment amounted to negative $26 million compared with a negative $39 million in third-quarter fiscal 2017.
Financials
Adient had cash and cash equivalents of $378 million as of Jun 30, 2018, compared with $709 million as of Sep 30, 2017.
As of the same date, net debt amounted to $3.1 billion, up from $2.8 billion as of Sep 30, 2017.
Fiscal 2018 Outlook
For fiscal 2018, the company anticipates revenues of around $17.5 billion, up from the prior guidance of $17-$17.2 billion. Adjusted EBITDA is likely to be around $1.25 billion, down from the earlier guidance of $1.40-$1.45 billion.
Zacks Rank & Key Picks
Currently, Adient has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) , AB Volvo (VLVLY - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 7.3%.
AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 2.3%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 30.2% over the past year.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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