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Fly News Breaks for January 16, 2019
ADNT
Jan 16, 2019 | 10:35 EDT
After Adient pre-announced Q1 revenue, adjusted EBITDA and margins that were worse than consensus forecasts and below what Goldman Sachs analyst David Tamberrino expected, he said he expects shares to remain pressured on the weaker results and continued headwinds that the company highlighted, including non-recurrence of SG&A benefits from last year, tariffs on Chinese products and global steel, adverse foreign exchange impacts, and increased Aerospace spending. Tamberrino keeps a Neutral rating on Adient shares, which are down 7% to $17 in morning trading.
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