Johnson Controls Spinoff Adient Unveils Fiscal Year Outlook - Modern Distribution Management

Johnson Controls Spinoff Adient Unveils Fiscal Year Outlook

Automotive seating and interiors business projects up to $17 billion in sales for first year.

Adient, the automotive seating and interiors business being spun off from Johnson Controls Inc. (NYSE: JCI), Milwaukee, WI, announced that it expects sales of $16.8 to $17 billion and adjusted net income between $850 and $900 million for fiscal year 2017, the company's first year of trading.

Johnson Controls announced earlier this year that Adient would be the name of its automotive seating and interiors business after the entity is spun off into a new publicly traded company in October. The company expects to begin operating as an independent company and trade on the New York Stock Exchange under the symbol "ADNT" on Oct. 31, when the spinoff from Johnson Controls is completed.

"The automotive business has consistently been a significant growth engine for Johnson Controls over the past 25 years," said incoming CEO Bruce McDonald. "Operating as an independent company will enable us to invest in the business to drive profitable growth, ultimately delivering value to our shareholders."

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.