For the quarter ended March 2024, Adient (ADNT) reported revenue of $3.75 billion, down 4.1% over the same period last year. EPS came in at $0.54, compared to $0.32 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.83 billion, representing a surprise of -2.15%. The company delivered an EPS surprise of +38.46%, with the consensus EPS estimate being $0.39.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Adient performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Light Vehicle Production - North America: 4 million versus the two-analyst average estimate of 3.94 million.
- Light Vehicle Production - China: 6.2 million versus 6.35 million estimated by two analysts on average.
- Light Vehicle Production - EMEA: 4.5 million compared to the 4.45 million average estimate based on two analysts.
- Light Vehicle Production - South America: 0.6 million versus 0.64 million estimated by two analysts on average.
- Net Sales- Asia: $742 million compared to the $773.51 million average estimate based on two analysts. The reported number represents a change of -4.1% year over year.
- Net Sales- Eliminations: -$22 million versus -$27.43 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.3% change.
- Net Sales- America: $1.66 billion versus the two-analyst average estimate of $1.80 billion. The reported number represents a year-over-year change of -5.7%.
- Net Sales- EMEA: $1.37 billion versus $1.38 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -2.2% change.
Shares of Adient have returned -3.3% over the past month versus the Zacks S&P 500 composite's -2.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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