Adient PLC (ADNT)

Pretax margin

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	50,000	58,000	130,000	202,000	205,000	228,000	117,000	50,000	-26,000	1,019,000	968,000	1,122,000	1,357,000	184,000	-75,000	-175,000	-490,000	-442,000	-105,000	-187,000
Revenue (ttm)	US$ in thousands	14,688,000	14,855,000	15,194,000	15,356,000	15,395,000	15,316,000	14,746,000	14,340,000	14,121,000	13,242,000	12,999,000	13,312,000	13,680,000	14,506,000	12,890,000	12,582,000	12,670,000	12,994,000	15,587,000	16,304,000
Pretax margin		0.34%	0.39%	0.86%	1.32%	1.33%	1.49%	0.79%	0.35%	-0.18%	7.70%	7.45%	8.43%	9.92%	1.27%	-0.58%	-1.39%	-3.87%	-3.40%	-0.67%	-1.15%

September 30, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $50,000K ÷ $14,688,000K
= 0.34%

Adient PLC's pretax margin has fluctuated over the past two years. In the most recent quarter, ending on September 30, 2024, the pretax margin was 0.34%, showing a slight decrease compared to the previous quarter. However, it remains relatively low compared to the levels seen in the first half of 2022 when pretax margins were around 7-9%.

The trend in pretax margin indicates some volatility in the company's profitability. There was a significant drop in pretax margin in the second quarter of 2023, which has since recovered but not to the levels seen in early 2022. The negative pretax margins reported in some quarters in 2021 and 2020 signify periods of financial difficulties or losses for the company.

Overall, Adient PLC's pretax margin performance suggests challenges in maintaining consistent profitability, and the company may need to focus on improving operational efficiency and cost management to enhance its margins going forward.