$ADNT reports 9% Decrease in Revenue, But Improved Adjusted EBITDA Margin in Q1 2023 compared to Q1 2022
The financial report on Adient plc reveals a 9% YoY decrease in revenue in Q1 2023 due to lower sales volumes. However, the company's Adjusted EBITDA margin increased by 110bps to 7.0% and it generated $231mn Adjusted EBITDA. The report also includes non-GAAP measures such as Adjusted EBIT and free cash flow to evaluate the company's business segments. While Adient has shown improvement in some areas, its performance continues to be challenged by lower sales volumes. Investors should remain watchful of its future growth and profitability.