Adient PLC Q3 2019 Earnings Call Transcript

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

Question: Aileen Elizabeth Smith - BofA Merrill Lynch, Research Division - Analyst : This is Aileen Smith on for John. First question, you've commented in the past that your China joint ventures have largely been self-funding in nature, and as we understand it, this has been a reason why that business had been holding up better than the consolidated business until more recent quarters. As the market has deteriorated, how much control does Adient have on pulling cost out of its JVs? Is it tougher than the consolidated business to be decisive and surgical on cost reduction given the JV partners?

Question: Aileen Elizabeth Smith - BofA Merrill Lynch, Research Division - Analyst : Great. That's very helpful commentary. And then a bit of a follow-up question. It's the same that have been asked already on pricing dynamics. Doug, in the 9 to 10 months that you've been on the job, if you could perhaps qualitatively comment, have commercial discussions with customers been more or less challenging in recent months as the industry environment remains really tough? And asked another way, are you seeing your customers push back more so now than they perhaps did earlier this year when I think there was an assumption that some of the industry pressure might be more transitory? 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. AUGUST 06, 2019 / 12:30PM, ADNT.N - Q3 2019 Adient PLC Earnings Call

Question: Aileen Elizabeth Smith - BofA Merrill Lynch, Research Division - Analyst : Great. That's very helpful. And last one, if I may, for Jeff. In terms of thrifting and actions taken to reduce CapEx spend that you cite on Slide 19, can you detail where this is coming from? Is it maintenance CapEx and restructuring actions that you're getting a bit more efficient on? Or is it growth CapEx that you're pulling back on in any way?