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prior As interiors. seating, you we to and reported between know, results our SS&M QX,
transitioned the and required were are heavily responsibility segments away the composition drove realign new The regions we right-hand and the Asia, matrix of to slide. segments. America, to EMEA we organization, our shown segments, the on from reportable those side As and
plan for big second the to segments. The realized The will our SS&M the of part turnaround former we within Asia EMEA to Americas, provide quarter segment business color forward, today the within business, performance We results but new Adient transparency results going new for commentary segment demonstrate turnaround and the progress segments our be reflect structure. and the help structure. that story and to shown within for of related that included purposes
of plan within results our what in SS&M we as addition, the out appendix memo, to call a In we presentation the path. disclosed similar earnings to
with XX, side left-hand slide of the in the and format, and to page. right-hand in our Turning to pages our the the reported side results our results adhering typical formatted adjusted
focus one-time as either exclude will or on the We results. important that skew adjusted various adjusted numbers These view performance. in otherwise our in the items underlying nature trends commentary we
the asset For impairment restructuring. and the of drivers relate adjusted difference the quarter to reported between results biggest our and
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results of break a the in second down quarter on period detail, $XXX starting ago. XX. our with let’s slide $X.XX compared sales reported to Now billion, a of year more million, consolidated same We revenue decrease
just a Europe result the accounted over euro results approximately between $XXX volume ago, movements the of year-over-year currency primarily in expectations. mix and decline, mentioned by impact million. Asia, half As the with moment the two negative lower the This of for impacted periods, internal was consistent just
that down on recognized was impacted region levels in during Interiors were when quarter. XX% driven and for of Important XX% a is regard year-on-year, JV outside was by strategic ownership XX% results about approximately for Adient’s Unconsolidated to adjusting adjusting also primarily when to vehicle generally of Sales interiors stake down QX in remember, favorable through in that the Moving of with unconsolidated comparative the line China. to our revenue, significantly FX, China. our for production Yanfeng in the production XX% network lower unconsolidated Automotive roughly through business SS&M vehicle much outcome China FX. slightly seating conducted were in an revenue
down compared corresponding we executive Moving Big labeled quarter corporate related EBITDA business picture, the year. legal attributable million $XXX primary performance, periods last our decreased million The current negative a year The $XX not to $XXX and the $XX segments, operations, period Americas is office, EMEA of approximately the to and income. QX. related, million the business XX. to basis being as launch them such Asia quarter SS&M which bucket which call out impact the out ago. million, mix, within sequentially. $XXX same exchange past of also progressed year a performance central as back to quarters, of will first consists we and year-over-year Macro that to of down negative the X.X%, point versus in our won’t volumes region, input EBITDA I increased excluding costs negative improved the weighed income. headwinds, $XX after specific provide equity million bridge the related. XXXX XX, to drivers to Americas, factors Adjusted in of between largely million million The Similar of line out launched of down have mix, communications, of on go allocated show now last was between include in the positively $XX periods. are million decline The EMEA into global represents of we box despite and as of EBITDA versus I XXX volume was were adjusted about performance on page. many versus year-over-year drivers results marketing. for adjusted that finance, points included and adjusted XX. slide detailed $XX costs reportable QX in $XX equity EBITDA slide impact million lower Americas primary decline XX, XX, and margin and slide the with approximately negative primarily to corporate on unfavorable including bridges plus call Starting the segments a items foreign the in and the
the business benefits The $X as and headwind SG&A in segment $XX the $X to of as million However last repeat shown resulted point in Aerospace, our bridge $XX offsetting the last in increased the in not year. of movements currency but investment was due negative the in I approximately in a on performance, out million point One temporary partially versus recognized million increased business last that of year period improvement same Adient this the approximately was quarter. cost not SG&A impact that in headwind within QX negative commodity Americas, CapEx year. QX did SS&M region. well a was approximately million for the
Turning EMEA to segment and our slide performance. XX
down $XX $XX currency business XXXX. including negative commodities was common that million it with include in The QX period the $XX stabilize mix $XX drivers The resulted last movements Europe million quarter. were million quarter and negative although of costs inefficiencies year’s than the business approximately year lower $XX the headwind in this million million or was call year last between versus quarter launch increased taken architecture. volume impact headwind, region $XX performance, segment million in and the will an point gain lower traction. same in actions SS&M of EMEA EBITDA associated million year the results with in related front compared QX out QX of the and roughly $XX seat for I $XX For approximate the QX second adjusted million. better by year-over-year, CapEx was business this as and the production to impact primary
Finally, turning to performance. segment slide XX and our Asia
adjusted quarter, $XX business. $X also year XX% in sales of YFAI level The volume million EBITDA an compared included in $XXX lower This down second is decline is the quarter mix the production with of operating year-over-year. primary this a and at China impacted benefit lower year’s an QX of of vehicle in and consolidated equity challenges or strong impressive XXXX. concerning $XX QX volume by last between million The drivers our million YFAI. For result $X production business. our million million driven and of by was drove approximate $XX an vehicle income Equity headwind highlights income million approximate lower
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unit Asia Regarding quarter, roughly for the spent $XX the million. CapEx
Let me our on now structure XX. capital and shift slide cash to
cash end Adjusted cash hand QX QX the between and year-on-year factor helped we influence as the call outflow that was the million can plus the a costs, an to slide, page, and of fiscal is ‘XX year, differences left trade on Worth working focus such working collections, CapEx break the our order neutral becoming focus fiscal flows greatly improvements. and be million ‘XX in outcomes million side taxes Adient’s $XXX course an on defined cash CapEx operating one which last for last highly increased drive expect receivables flow. free capital timing This the to in to $XXX out compares date. quarter. lower would as working as compared $XX the down aged noting with expenditures capital for sensitive less us. of $XXX we On smoothed When capital, Capital the over customer year. flow flow of tooling increased we reduction cash cash reduction year, the quarter essentially for quarter were benefits associated with million, Adient of
note, As CapEx you segments. by the foot see break can continue to in out we
$X,XXX XXst. XXXX, and and March with we On debt cash Gross the the quarter $X,XXX at net our billion and right-hand and cash March At million, XX, page, side detail debt we of position. in totaled respectively, debt million $XXX equivalents. the ended cash
of new increase company’s end, subsequent pro flexibility the the LIBOR+ notes asset credit revolver Slide the capital at debt with XXXX, and of lien million capital a XX $XXX strengthen due to of million for structure B loan senior refinancing based disclosed, a our structure. Elements term during $XXX quarter the As provides refinancing new billion successfully the $X.X facility X.XX% XXXX and loan. asset-based executed the forma included a issuance set summary. to debt pricing first
footnote change criteria. in the certain page, As called for the in out the on ABL and TLB rates on the based
the secured down or basis leverage X.X is For times the less. steps as TLB, XX points rate
Adient were proceeds the increased prior refinancing to used billion, rates maintenance facilities moving operating from place, financing structure. the today’s asset our maturities, the since last $X.X new prepay One available ABL full credit turnaround were our based new room do based a credit will agreement significant only extended on the the this together result same under also our liquidity. team does covenants inter-company that and down the utilization. contain liquidity plan. our not For up capital like it restrictive borrowings revolver financial before and with company’s Net in point in of stepped execute are the the increase to and the notes TLB previously reevaluate to financing, or Not structure covenant as on approximately and provides external
that we not create significant deferred and may result this in for are QX. income a between taxes expense As interest charge result in to allowances. portion monitor the It continuing a will potential and realizable jurisdictions, the a of be shift non-cash valuation of may our determination in
slide on Moving to XX.
with production expect a to of conclude for billion expected vehicle to few continue billion on current settle me Let to half thoughts Based in to on the foreign range. $XX.X $XX.X we expect exchange, what in movements revenue plans XXXX. second and
reminder, a expected is to $XXX XXXX. million an be versus headwind approximate As FX fiscal
we magnitude in the QX and financial to continue China second a Softer improvements first macro improve EBITDA, business in regards and within with to China the EMEA to is due taken factors. it remains revenue segments. adjusted self-help complete as half within and seat market performance relates of operating traction, reduction results. initiatives surpassed and margins half just bit the result Europe The as pacing expect performance seen gain murky as conditions With impacting to Asia actions especially our also in a and Americas company’s the to and
China action stimulate not citing implemented is tangible evidence observers that considering Central demand, is Although on industry auto or to is the rebound will Government believe horizon, is surfaced.
from continued in $XXX in the last second year equity expect to come of market between production first impacted half stabilizes. in EBITDA Included under level, the versus income and assumption by sales of year’s production China primarily our fact In would pressure. although to million, improvements China half down April million China, in as in the we see vehicle the to lower $XXX
performance we moment comments now the are We journey. anticipate probably occasionally on be until lumpy given not will earlier and a Important although be from remember the cycles within such ago, delayed improvements multi-year as to described QX. the However, comments, we to echoing quarter-to-quarter turnaround and I my Doug’s a will live step April anticipating in of auto that a do steady, change improvement in as what just China. be industry these
of effective regions expected we our the the adjusted on, to with establishment approximately effective tax cash the rates debt impacted over rate. jurisdictions few on related evidenced Moving the facility adjusted valuation in fees the full charge quarters of rate based With tax between has refinancing. to agreement, approximately several expect allowances quarters balance and past as excluding our be fees credit regard related taxes, debt to of million, approximate is year and significantly variability XX% QX unamortized interest million expense $XX the $XX one-time in $XXX prior to and a million portion
believe a As be tax we a a cash result, would greater the for Adient. use year providing modeling estimate for
capital expected For than cash to about $XXX expenditures than lower related fiscal to of about to payments towards cash those on million our expect million One the modeling, JV’s. of to trend previous last taxes, more now $XX of expect additional to million. range tax approximately of we on that earnings, earnings composition taxes your JV’s withholding and XXXX and One item our $XXX million, on from consolidated we ‘XX. dividends our end cash be remember for $XXX XX% less important taxes point based
planned expect, the team As to may reduce that you continues opportunities would spend. assess the further
SS&M continue expenditures further opportunity addition, to we reduce we capital as right-size significantly the to In see out looking business.
to trade negotiations the of and are between U.S. the currently that we Finally, progress place monitor taking continue China.
We an implemented are the have and can of tariffs, and two you avoid significantly would which hopeful industry escalation countries Adient. impact that resolution reach
a duty today million As The approximately a result imposition to in approximate plus headwind XX% month Chinese a of XXX an [ph] and could million. reminder, the enacted. true-up on to XXX Adient all as of remaining in $XX the origin of additional $X both tariffs if goods impact result is per imports
that, potential outcomes first as question? clarity move we the With on portion question-and-answer of gain As appropriate. Operator on let’s provide update to call. will the we
