Adient (ADNT) FY2024 results: revenue $14.7 billion, down 4.6% on the year

Adient plc (ADNT) reported revenue of $14.7 billion for fiscal 2024, the year ended 30 September 2024, down 4.6% on the year before. Net income was $18 million, down 91.2%, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2024.

Revenue

$14.7 billion

-4.6% on the year

FY2017FY2024

Operating margin

n/a

FY2017FY2024

Net income

$18 million

-91.2% on the year

FY2017FY2024

Diluted EPS

$0.20

-90.7% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	14,688	15,395	14,121	-4.6%
Cost of revenue	13,760	14,362	13,314	-4.2%
Gross profit	928	1,033	807	-10.2%
Gross margin	6.3%	6.7%	5.7%
Research and development	372	362	322	+2.8%
Selling, general and administrative	507	554	598	-8.5%
Interest expense	187	132	192	+41.7%
Pre-tax income	133	295	54.0	-54.9%
Income tax	32.0	0.0	94.0
Effective tax rate	24.1%	0.0%	174.1%
Net income	18.0	205	-120	-91.2%
Net margin	0.1%	1.3%	-0.8%
Diluted EPS	$0.20	$2.15	-$1.27	-90.7%

$ million except per share.

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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	543	667	274	-18.6%
Capital expenditure	266	252	227	+5.6%
Free cash flow	277	415	47.0	-33.3%
Free cash flow margin	1.9%	2.7%	0.3%
Cash from investing	-253	-229	484
Cash from financing	-502	-271	-1,273
Depreciation and amortisation	332	340	350	-2.4%
Share-based compensation	31.0	34.0	29.0	-8.8%
Buybacks	275	65.0	0.0	+323.1%
Diluted shares, weighted	90m	95m	95m	-5.6%
Shares outstanding at period end	85m	94m	95m	-9.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	2,134	2,228	2,073	-4.2%
Non-controlling interest	309	318	302	-2.8%
Short-term borrowings	1.0	n/a	n/a
Debt	2,396	2,535	2,578	-5.5%
Operating lease liabilities	168	163	186	+3.1%
Other liabilities	4,343	4,180	4,019	+3.9%
Total liabilities and equity	9,351	9,424	9,158	-0.8%
Fixed assets	1,410	1,382	1,377	+2.0%
Goodwill	2,164	2,094	2,057	+3.3%
Intangible assets	371	408	467	-9.1%
Cash and equivalents	945	1,110	947	-14.9%
Inventory	758	841	953	-9.9%
Other assets	3,703	3,589	3,357	+3.2%
Total assets	9,351	9,424	9,158	-0.8%

10-K for the year ended 30 September 2024, filed 18 November 2024: the filing.