FY 2023 Second Quarter Earnings Call
Executing Adient's FY23 plan
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ADIENT
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Remaining focused on delivering the company's commitments
> Strong operational execution, positive commercial momentum and an extreme focus on
containing costs continue to drive the business forward
Adient delivered solid Q2FY23 financial results, building on the momentum established
earlier in the year
> The momentum is expected to continue in H2FY23; however, expectations are tempered due to
soft vehicle demand in China and elevated steel prices in North America
> FY23 plan on track
In addition to Q2FY23's financial results, several other initiatives continue to be executed
to ensure long-term sustained success for the company
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Opportunistically issued $1B of new USD senior notes - proceeds from the issuance plus cash on
hand used to paydown ~$750M of EUR notes due 2024 and pre-pay $350M of Adient's TLB
The company began to execute its previously announced enhanced capital allocation plan by
repurchasing ~759,600 shares of its common stock using ~$30M of cash on hand (includes
~48,000 shares and ~$1.9M that settled subsequent to quarter end)
Awarded business with new entrants and legacy OEMs, solidifying our market-leading position
Selected "supplier of the year" by several customers -- further underscoring the company's
unrelenting focus on delivering quality solutions. Recognition in the quarter included: GM
Supplier of the Year, Renault Korea Motors Supplier of the Year, FAW-Toyota Excellent Quality
Award, Volvo Car APAC Excellent Supplier Award, GAC-Trumpchi Excellent Supplier Award and
seven J.D. Power awards for seat satisfaction for Adient's APAC region team
FY2023 Second Quarter Earnings Call
Adient PUBLIC
Key Q2FY23
Financial Metrics
Consolidated ~$3.9B
Revenue (up 12% y-o-y)
Adj. EBITDA
Cash Balance
Gross Debt
and Net Debt
$215M
(up $56m y-o-y)
$826M
(at March 31, 2023)
~$2.5B and ~$1.7B,
respectively
May 3, 2023
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