Adient PLC Q4 2021 Earnings Call Transcript

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

Question: Aileen Elizabeth Smith - BofA Securities, Research Division - Analyst : This is Aileen Smith on for John. I understand why it's tough to give a formal outlook on adjusted EBITDA and free cash flow into next year. But I wanted to ask a question around free cash flow and whether it's possible to provide maybe a directional read in the same way you gave for adjusted EBITDA or perhaps a way to think about free cash flow conversion from EBITDA into next year? Just trying to get a sense of whether on an operational basis, you think you could be free cash flow generative next year outside of some of the cash tailwinds you'll get for strategic actions?

Question: Aileen Elizabeth Smith - BofA Securities, Research Division - Analyst : Okay. That's helpful.

Question: Aileen Elizabeth Smith - BofA Securities, Research Division - Analyst : Yes. Understood. And then I wanted to follow up on one of the headwinds that was cited on the EBITDA walk about the nonrepeat of various commercial settlements. Is that solely just the onetime benefit from renegotiating contracts with your customers that obviously doesn't repeat? Or should we read into that as you're getting into the eighth or ninth inning of sorts on those discussions with your customers? And so settlements should naturally abate going forward, but the offsetting factor is that you've got more economic contracts in the business and the consolidated numbers now? Just trying to make sure there isn't anything (inaudible) to read into there with the commercial settlement not repeating?