Adient's board adopted a Tax Benefits Preservation Plan to help protect its U.S. net operating loss carryforwards and other tax attributes, and increased its share repurchase authorization by $400 million to a total of $1 billion. The rights plan is designed to make it harder for any person or group to reach a 4.95% stake, which could limit a takeover or large holder purchase, while the larger buyback authorization gives the company more capacity to return capital to shareholders.
The company's rights are issued one per ordinary share, exercisable after the Separation Time for $83.50 to buy one one-thousandth of a participating preferred share.
The repurchase authorization rises by $400 million to $1 billion total, with $435 million remaining after $565 million repurchased under the program launched in November 2022.
The plan expires on November 4, 2027 unless shareholders ratify it, in which case it runs to November 4, 2029; the company intends to seek shareholder approval at its next annual meeting.
Adient reported a fourth-quarter fiscal 2026 net loss attributable to Adient of $47 million, or $0.62 per diluted share, compared with net income of $18 million, or $0.22 per share, a year earlier. Net sales rose to $3.73 billion from $3.69 billion, but restructuring and impairment costs increased to $74 million from $11 million. For the full year, the net loss narrowed to $17 million from $281 million, and adjusted diluted earnings per share were $1.87, down from $1.93.
Q4 net sales $3.73 billion vs. $3.69 billion a year earlier
Q4 net loss attributable to Adient $47 million ($0.62 per diluted share) vs. net income of $18 million ($0.22)
Q4 restructuring and impairment costs $74 million vs. $11 million; adjusted diluted EPS $0.52 in both periods
Full-year net loss attributable to Adient $17 million vs. $281 million; full-year adjusted diluted EPS $1.87 vs. $1.93
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