ADNT – Adient plc

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    Adient announces preliminary Q2 fiscal 2019 results; realigns reportable segments

    Adient (NYSE:ADNT), a global leader in automotive seating, today reported certain preliminary financial results for the quarter ended March 31, 2019. Revenue in Q2FY19 is expected to be approximately $4.2B versus $4.6B in Q2FY18. Q2FY19 Adjusted EBITDA is expected to be between $185M and $195M, versus $362M in the prior-year quarter. Free cash flow (operating cash flow, less capital expenditures) for the quarter is expected to be between $45M and $60M, versus $(146)M in the prior-year quarter. An increased focus on working capital (e.g. reduction in aged receivables), lower capital expenditures and benefits associated with quarter close timing differences between Q2FY19 and Q2FY18 helped drive the year-on-year improvement.

    http://35.232.140.26/benzinga/adient-announces-preliminary-q2-fiscal-2019-results-realigns-reportable-segments/

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