Adient's First Quarter Suffers From $126 Million Loss in Seat Structures and Mechanisms
Adient started fiscal 2018 off with poor results due to increased struggles in the seat structures and mechanisms (SS&M) unit. Management at a recent conference said the division is having far worse problems than originally expected and that fiscal 2018 guidance could be changed. Management did lower guidance on Jan. 29 when reporting fiscal first quarter results, which led to further sell-off in the stock. It lowered free cash flow guidance for fiscal 2018 by 57% from prior guidance to abou...
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