Adient PLC Q1 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Joseph Robert Spak - RBC Capital Markets, Research Division - Analyst : I guess, just to start on the commercial settlement. It sounds like what you're saying is this is lumpy, this is based on some recoveries and sort of contractual recoveries. Is that right? And this is not a result of some of the other sort of commercial settlements you've talked about in going back to customers and trying to sort of reprice some of the contracts?

Question: Joseph Robert Spak - RBC Capital Markets, Research Division - Analyst : Okay. In the remaining China JVs, your guidance, I think, like, if you -- on an apples-to-apples basis, it's kind of steady. But one quarter was much stronger than expected, and there was sort of that $10 million tax credit. So it implies some significantly lower implied margins in the seating JVs over the course of the year. What's driving that? And is that a sort of a more new normal rate to think about in China? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JANUARY 31, 2020 / 1:30PM, ADNT.N - Q1 2020 Adient PLC Earnings Call

Question: Joseph Robert Spak - RBC Capital Markets, Research Division - Analyst : Okay. And quickly on the AYM portion of the JV actions. How long does it -- will it take for them to get set up on mechanisms? And can you offload or, I guess, you like outsource business to them? Or is this more for go-forward contracts?

Question: Joseph Robert Spak - RBC Capital Markets, Research Division - Analyst : So they're set up today?