Adient Plc (ADNT), an automotive seating company, on Monday reported a rise in preliminary adjusted EBITDA for the first-quarter.
According to its preliminary estimates, Adient posted adjusted EBITDA of around $215 million, higher than $212 million registered for the same period last year.
Preliminary revenue stood at around $3.7 billion, or about flat, year-over-year. On average, seven analysts polled by Thomson Reuters projected the firm to record revenue of $3.72 billion, for the quarter. Analysts' estimates typically exclude special items.
Jerome Dorlack, CEO of Adient, said: "We continue to expect improved earnings and margin in FY24 vs. FY23."
Adient is scheduled to release its first-quarter results on February 7.
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