Adient reports FY22 net loss of $120M; Q4 adj EPS $0.53; extends credit facility to 2027

Adient plc

2022-FY EPS reported -$1.27 revenue$14,121,000,000

FY22 net loss $120M vs income $1.108B; revenue $14.12B (+3.2% YoY).
Q4 net income $45M ($0.47 diluted EPS); adjusted EPS $0.53; revenue $3.65B.
Full-year adjusted EBITDA $675M vs $917M; Americas up, EMEA and Asia declined.
Credit agreement amended: maturity extended to Nov 2027; benchmark switched to Term SOFR.
Free cash flow $47M for FY22 vs $0 in FY21.

item 1.01 item 2.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Adient plc reported financial results for the fourth quarter and fiscal year ended September 30, 2022.

Period: the fourth quarter and fiscal year ended September 30, 2022
Result: reported results

Exact text from the filing

On November 4, 2022, Adient plc issued a news release announcing its financial results for the fourth quarter and fiscal year ended September 30, 2022. The news release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Adient plc amended Amendment and Restatement with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (effective 2022-11-02).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Effective: 2022-11-02

Exact text from the filing

On November 2, 2022 (the “Restatement Date”), Adient US LLC, a Michigan limited liability company (the “Lead Borrower”), Adient plc, and the other Loan Parties (as defined in the Amended Credit Agreement (as defined below)) entered into an amendment and restatement agreement (the “Amendment and Restatement”), which amended and restated that certain Revolving Credit Agreement, dated as of May 6, 2019

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Adient plc filing history →

Source: SEC EDGAR

accession 0001670541-22-000090

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