Edition:
United States

Adient Says Near-Term Results "Significantly Impacted" By Seat Structures & Mechanisms


Tuesday, 16 Jan 2018 05:06pm EST 

Jan 16 (Reuters) - Adient Plc ::ADIENT PLC - DESPITE MANY SUCCESSES IN FY 2017 NEAR-TERM RESULTS ARE BEING "SIGNIFICANTLY IMPACTED" BY SEAT STRUCTURES & MECHANISMS.ADIENT PLC - "PREVIOUSLY IDENTIFIED HEADWINDS IMPACTING SS&M HAVE INTENSIFIED SINCE ADIENT’S FOURTH QUARTER EARNINGS CALL" - PRESENTATION.ADIENT - MANAGEMENT ACTING WITH URGENCY TO MITIGATE HEADWINDS; ACTIONS TAKEN TO-DATE INCLUDE CHANGES IN PERSONNEL, OVERSIGHT FOR SS&M BUSINESS.ADIENT - FIRST QUARTER FISCAL 2018 RESULTS ARE EXPECTED TO BE SIGNIFICANTLY IMPACTED BY SS&M.ADIENT - OVERALL MARGINS LIKELY TO TAKE "MODEST STEP BACKWARDS" IN FY 2018.ADIENT - IMPACT OF U.S. TAX REFORM APPEARS TO BE POSITIVE IN THE SHORT-TERM (FY 2018).ADIENT - CERTAIN STRUCTURAL CHANGES NEEDED TO OFFSET NEGATIVE INFLUENCES FROM U.S. TAX REFORM BEGINNING IN FY 2019. 

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