Adient Needs to Amend Its Debt or Raise Funds to Deal With Its July 2021 Debt Maturity
Although Adient's fiscal 2019 first-quarter free cash burn of $272 million beat January guidance of about a negative $300 million, adjusted diluted EPS of $0.31 badly missed consensus of $0.56 and adjusted EBIT fell 35% year over year to $105 million, sending the stock down over 20% early Feb. 7. We are lowering our fair value estimate to $60 for several reasons. Fiscal 2019 revenue guidance introduced Feb. 7 of $16.5 billion-$16.7 billion is below our $17.1 billion expectation. We also lowered ...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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