Adient Reiterates FY24 Sales Outlook Of $15.4B-$15.5B Vs. $15.59B Estimate; Forecasts Adj. EBITDA Of $985M In FY24
Portfolio Pulse from Benzinga Newsdesk
Adient has reaffirmed its fiscal year 2024 sales forecast, expecting revenues to be between $15.4 billion and $15.5 billion, slightly below the analyst estimate of $15.59 billion. The company also projects its adjusted EBITDA to reach $985 million in FY24.
February 07, 2024 | 11:59 am
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Adient reiterates its FY24 sales outlook of $15.4B-$15.5B, below the $15.59B estimate, and expects adjusted EBITDA of $985M.
Adient's reaffirmation of its FY24 sales outlook being slightly below analyst expectations could lead to a short-term negative sentiment among investors. The projection of adjusted EBITDA, while providing some clarity on profitability expectations, may not fully mitigate concerns over the slight revenue shortfall.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100