The company also reported an EBIT of US$96 million and a net loss of US$15 million for the period. However, on an adjusted basis, Adient has reported EBIT of US$134 million, EBITDA of US$215 million and net income of US$31 million.
Regionally, the company achieved US$72 million in adjusted EBITDA in the Americas, a 56.5% increase on its Q2 2022 result.
Meanwhile, in the EMEA region, adjusted EBITDA was up by 77% to US$53 million and, in Asia, adjusted EBITDA was up by 8% to US$113 million.
Looking forward to the full 2023 financial year, the company continues to expect US$15 billion in consolidated sales and around US$850 million in adjusted EBITDA.
Doug Del Grosso, President and Chief Executive Officer said: “Adient delivered strong operational, commercial and financial performance in Q2, building on the positive momentum established earlier in the year. Although obstacles exist, the team remains focused on navigating them successfully and delivering our FY23 plan.”
