Adient (NYSE:ADNT) reported first-quarter adjusted profits that handily beat Wall Street estimates, leading the automotive seating manufacturer to raise its financial outlook for the full fiscal year.
The Plymouth, Michigan-based company said Wednesday that revenue for the quarter ended Dec. 31 rose 4% to $3.64 billion, topping the $3.48 billion projected by analysts.
While the company recorded a GAAP net loss of $22 million, or 28 cents per share—largely due to restructuring charges in Europe—its adjusted performance told a stronger story.
Adjusted earnings per share came in at 35 cents, nearly double the 19 cents expected by the market.
The results reflect Adient’s ability to defend margins despite a volatile production environment for global automakers.
Adjusted EBITDA rose to $207 million, up from $196 million a year ago, with margins expanding slightly to 5.7%.
CEO Jerome Dorlack credited the company’s "resilient operating model" and favorable business performance for offsetting temporary customer disruptions.
Confidence in the remainder of the year led management to hike its fiscal 2026 targets.
Adient now expects consolidated sales of approximately $14.6 billion, up from its previous forecast of $14.4 billion.
The company also raised its adjusted EBITDA guidance to $880 million and its free cash flow projection to $125 million, citing an improved vehicle production outlook.