Adient plc Files Q1 2025 10-Q Report

TL;DR

Adient's Q1 2025 10-Q is in. Check financials.

AI Summary

Adient plc filed its 10-Q for the period ending December 31, 2024. The company, a major automotive seating supplier, reported its financial performance for the first quarter of fiscal year 2025. Key financial details and operational updates are provided in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Adient plc, a key player in the automotive supply chain.

Risk Assessment

Risk Level: medium — As a publicly traded company in the automotive sector, Adient faces inherent risks related to market demand, supply chain disruptions, and economic fluctuations.

Key Players & Entities

• Adient plc (company) — Filer of the 10-Q report
• 20241231 (date) — End of the reporting period
• 20250128 (date) — Filing date of the report
• 0001670541 (company) — Central Index Key for Adient plc

FAQ

Key Financial Figures

• $0.001 — registered Ordinary Shares, par value $0.001 ADNT New York Stock Exchange Indicate

Filing Documents

• adnt-20241231.htm (10-Q) — 1330KB
• a12312024exhibit311.htm (EX-31.1) — 16KB
• a12312024exhibit312.htm (EX-31.2) — 16KB
• a12312024exhibit321.htm (EX-32.1) — 10KB
• adnt-20241231_g1.jpg (GRAPHIC) — 11KB
• 0001670541-25-000019.txt ( ) — 8922KB
• adnt-20241231.xsd (EX-101.SCH) — 50KB
• adnt-20241231_cal.xml (EX-101.CAL) — 93KB
• adnt-20241231_def.xml (EX-101.DEF) — 243KB
• adnt-20241231_lab.xml (EX-101.LAB) — 692KB
• adnt-20241231_pre.xml (EX-101.PRE) — 494KB
• adnt-20241231_htm.xml (XML) — 1586KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Financial Statements 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42

Signatures

Signatures 43 Adient plc | Form 10-Q | 2

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Unaudited Financial Statements

Item 1. Unaudited Financial Statements Adient plc Consolidated Statements of Income (unaudited) Three Months Ended December 31, (in millions, except per share data) 2024 2023 Net sales $ 3,495 $ 3,660 Cost of sales 3,279 3,414 Gross profit 216 246 Selling, general and administrative expenses 125 147 Restructuring and impairment costs 23 11 Equity income 25 23 Earnings before interest and income taxes 93 111 Net financing charges 45 44 Other pension expense 1 2 Income before income taxes 47 65 Income tax provision 22 20 Net income 25 45 Income attributable to noncontrolling interests 25 25 Net income attributable to Adient $ — $ 20 Earnings per share: Basic $ — $ 0.22 Diluted $ — $ 0.21 Shares used in computing earnings per share: Basic 84.4 92.9 Diluted 84.7 93.6 The accompanying notes are an integral part of the consolidated financial statements. Adient plc | Form 10-Q | 3 Adient plc Consolidated Statements of Comprehensive Income (Loss) (unaudited) Three Months Ended December 31, (in millions) 2024 2023 Net income $ 25 $ 45 Other comprehensive income, net of tax: Foreign currency translation adjustments ( 236 ) 142 Realized and unrealized gains (losses) on derivatives ( 8 ) 9 Other comprehensive income (loss) ( 244 ) 151 Total comprehensive income (loss) ( 219 ) 196 Comprehensive income attributable to noncontrolling interests 6 38 Comprehensive income (loss) attributable to Adient $ ( 225 ) $ 158 The accompanying notes are an integral part of the consolidated financial statements. Adient plc | Form 10-Q | 4 Adient plc Consolidated Statements of Financial Position (unaudited) (in millions, except share and per share data) December 31, 2024 September 30, 2024 Assets Cash and cash equivalents $ 860 $ 945 Accounts receivable - net 1,415 1,896 Inventories 721 758 Other current assets 523 487 Current assets 3,519 4,086 Property, plant and equipment - net 1,334 1,410 Goodwill 2,091 2,164 Other intang

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (unaudited) 1. Organization and Summary of Significant Accounting Policies Adient is a global leader in the automotive seating supplier industry and maintains relationships with the largest global automotive original equipment manufacturers, or OEMs. Adient's proprietary technologies extend into virtually every area of automotive seating solutions, including complete seating systems, frames, mechanisms, foam, head restraints, armrests and trim covers. Adient is an independent seat supplier with global scale and the capability to design, develop, engineer, manufacture, and deliver complete seat systems and components in every major automotive producing region in the world. Basis of Presentation The unaudited consolidated financial statements of Adient have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). These interim consolidated financial statements include all adjustments (consisting of normal recurring adjustments) that management believes are necessary for a fair statement of the results of operations, financial position and cash flows of Adient for the interim periods presented. Certain figures for comparative periods were regrouped to conform to current period presentation. Principles of Consolidation Adient consolidates its wholly-owned subsidiaries and those entities in which it has a controlling interest. Investments in partially-owned affiliates are accounted for by the equity method when Adient's interest exceeds 20% and does not have a controlling interest. Consolidated VIEs Based upon the criteria set forth in the Financial Accounting Standards Board (the "FASB") Accounting Standards Codification ("ASC") 810, "Consolidation," Adient has determined that it was the primary beneficiary in two variable interest entities ("VIEs") for the

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