Adient’s Q1 net income grows 9% y/y USD149 million

Company expects strong growth on robust business backlogs in its both business segments for next three years

Adient has released its first quarter results following its separation from Johnson Controls and listing on the New York Stock Exchange (NYSE) last year. According to a press release, the company reported 9% year-over-year (y/y) increase in net income to USD149 million and 12% y/y growth in operating income to USD234 million. Adient recorded higher earnings despite witnessing a 5% y/y drop in sales to USD4 billion. The company recorded adjusted EBIT of USD290 million, up 14% y/y, delivering adjusted EBIT margin of 7.2%.