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Adient (ADNT) Q4 FY2023 earnings: revenue $3.7 billion, up 2.2% on the year

Adient plc (ADNT) reported revenue of $3.7 billion for Q4 FY2023, the quarter ended 30 September 2023, up 2.2% on the same quarter a year earlier. Net income was $135 million, up 200.0% on the year, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 17 November 2023.

Revenue$3.7 billionup 2.2%
Net income$135 millionup 200.0%
Diluted EPS$1.42
QuarterQ4 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Quarter beforeA year earlierChange on the year
Revenue3,729n/an/an/a
Cost of revenue3,479n/an/an/a
Gross profit250n/an/an/a
Gross margin6.7%n/an/a
Selling, general and administrative127n/an/an/a
Interest expense37.0n/an/an/a
Pre-tax income73.0n/an/an/a
Income tax-84.0n/an/an/a
Effective tax rate-115.1%n/an/a
Net income135n/an/an/a
Net margin3.6%n/an/a
Diluted EPS$1.42n/an/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow294n/an/an/a
Capital expenditure75.0n/an/an/a
Free cash flow219n/an/an/a
Free cash flow margin5.9%n/an/a
Cash from investing-65.0n/an/an/a
Cash from financing-10.0n/an/an/a
Depreciation and amortisation88.0n/an/an/a
Share-based compensation9.0n/an/an/a
Buybacks0.0n/an/an/a
Diluted shares, weighted95mn/an/an/a
Shares outstanding at period end94mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity2,228n/an/an/a
Non-controlling interest318n/an/an/a
Short-term borrowings2.0n/an/an/a
Debt2,401n/an/an/a
Operating lease liabilities163n/an/an/a
Other liabilities4,312n/an/an/a
Total liabilities and equity9,424n/an/an/a
Fixed assets1,382n/an/an/a
Goodwill2,094n/an/an/a
Intangible assets408n/an/an/a
Cash and equivalents1,110n/an/an/a
Inventory841n/an/an/a
Other assets3,589n/an/an/a
Total assets9,424n/an/an/a

Questions

What was Adient's revenue in Q4 FY2023?

Adient (ADNT) reported revenue of $3.7 billion for Q4 FY2023, the quarter ended 30 September 2023, up 2.2% on the same quarter a year earlier.

How much did Adient earn in Q4 FY2023?

Net income for Q4 FY2023 was $135 million, up 200.0% on the year, and diluted earnings per share $1.42.

When did Adient report Q4 FY2023 results?

Adient filed its 10-K for the year that ended with the quarter on 17 November 2023; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue3,7293,6603,7503,7163,5623,4953,6113,7413,6883,6443,8653,929
Cost of revenue3,4793,4143,5203,5093,3173,2793,3503,5043,4413,4273,6083,694
Gross profit250246230207245216261237247217257235
Gross margin7%7%6%6%7%6%7%6%7%6%7%6%
SG&A127147115121124125144129124130138136
Interest expense37.060.037.053.037.052.032.053.046.053.042.052.0
Pre-tax income73.065.0-41.045.064.047.0-26566.064.041.076.065.0
Tax rate-115%31%n/a89%-56%47%n/a11%41%102%42%35%
Net income13520.0-70.0-11.079.00.0-33536.018.0-22.027.025.0
Net margin4%1%-2%-0%2%0%-9%1%0%-1%1%1%
Diluted EPS$1.42$0.21-$0.77-$0.12$0.91$0.00-$3.99$0.43$0.22-$0.28$0.34$0.32
Operating cash flow29441.081.0158263109-45.017221380.081.0205
Capital expenditure75.055.069.070.072.064.045.057.079.065.073.067.0
Free cash flow219-14.012.088.019145.0-90.011513415.08.0138
Buybacks0.0100150225-20025.00.050.050.025.00.030.0
Shares outstanding94m91m90m87m85m84m84m81m79m78m78m77m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 September 2023, filed 17 November 2023, accession 0001670541-23-000153: the filing on EDGAR. All of Adient plc's filings: EDGAR company page.

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