Auto Roundup: Quarterly Earnings in Focus; GM Beats, F Misses & Other Updates
Zacks Investment Research | Feb 06, 2022 09:28PM ET
Last week, many auto biggies released U.S. vehicle sales data for the month of January 2022. U.S. auto giant Ford )
Adient incurred an adjusted loss per share of 38 cents in the first quarter of fiscal 2022. The Zacks Consensus Estimate was pegged at earnings of 8 cents. The bottom line also compared unfavorably with the year-ago earnings of $1.71 per share. This downside stemmed from declining profitability across all the segments. Adient generated net sales of $3,480 million, down from $3,848 million recorded in the prior-year period. The top line, however, surpassed the Zacks Consensus Estimate of $3,381.5 million.
Adient had cash and cash equivalents of $2,080 million as of Dec 31, 2021. Long-term debt amounted to $3,482 million. ADNT expects 2022 revenues to be $14.8 billion. Capital expenditure is envisioned in the range of $300-$325 million. Equity income expectation has been increased to $90 million from $80-$90 million mentioned earlier. (Adient Incurs Q1 Loss, Surpasses Sales Estimates )
h3 Price Performance/h3The following table shows the price movement of some of the major auto players over the past week and six-month period.
Industry watchers will track China vehicle sales data for January 2022, which is likely to be released by the China Association of Automobile Manufacturers this week. Also, stay tuned for quarterly results of a host of auto companies, including Japan’s Big 3, that are slated to report this week.
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