Adient plc (NYSE:ADNT) shares took a pounding Friday, on fourth-quarter results.
Adient came out with quarterly earnings of $1.30 per share, beating estimates of $1.26 per share. This compares to earnings of $2.34 per share a year ago.
These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 3.17%. A quarter ago, it was expected that this automotive seating and interiors supplier would post earnings of $1.56 per share when it actually produced earnings of $1.45, delivering a surprise of -7.05%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Adient posted revenues of $4.15 billion for the quarter ended September 2018, surpassing estimates by 0.52%. This compares to year-ago revenues of $3.98 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
The company’s shares plummeted $7.16, or 24.9%, in Friday’s final hour of trading, to $21.66, plumbing a new 52-week low, in comparison to a high of $84.59
