Visteon Q1 2022 Earnings April 28, 2022 Visteon Q1 2022 In Review ($37) Million Net Sales $818 Million 11% Y/Y Growth(1) Adjusted EBITDA $71 Million 8.7% Margin Adjusted FCF $405 Million Total Cash STRONG PRODUCT PORTFOLIO CONTINUED TO DRIVE GROWTH | --- | --- | --- | --- | --- | |-----------------------------------------|----------------------------|------------------------------------------|--------------------------------------------|--------------------------------------------------| | | | | | | | ~22% ...

Financial Performance - Net sales for Q1 2022 were $818 million, an increase of 9.6% compared to $746 million in Q1 2021[10] - Gross margin improved to $76 million in Q1 2022, up from $73 million in Q1 2021, reflecting a gross margin percentage increase[10] - Net income attributable to Visteon Corporation was $22 million in Q1 2022, compared to $16 million in Q1 2021, representing a 37.5% increase[10] - Basic earnings per share attributable to Visteon Corporation rose to $0.79 in Q1 2022 from $0.57 in Q1 2021, marking a 38.6% increase[10] - Adjusted EBITDA for the three months ended March 31, 2022, was $71 million, an increase from $64 million in the same period of 2021[95] - The Company recorded a net income of $22 million for the three months ended March 31, 2022, compared to $16 million in the same period of 2021, resulting in a basic earnings per share of $0.79, up from $0.57[63] Assets and Liabilities - Total assets as of March 31, 2022, were $2,243 million, slightly up from $2,234 million as of December 31, 2021[12] - Cash and equivalents decreased to $402 million as of March 31, 2022, down from $452 million at the end of 2021[12] - Total liabilities remained stable at $1,601 million as of March 31, 2022, compared to $1,618 million as of December 31, 2021[12] - The Company has $349 million in term debt facility and no short-term borrowings as of March 31, 2022[43][44] - The Company has $176 million in other current assets as of March 31, 2022, an increase from $158 million as of December 31, 2021[38] Cash Flow and Investments - The Company reported a net cash used by operating activities of $21 million in Q1 2022, compared to a net cash provided of $11 million in Q1 2021[14] - The Company expects to receive cash reimbursement payments of $27 million during the remainder of 2022 related to contractually reimbursable engineering costs[40] - The Company has contributed approximately $10 million toward a total commitment of $15 million in equity investments in automotive sector funds as of March 31, 2022[29] - Cash contributions to the Company's non-U.S. defined benefit plans were $1 million in Q1 2022, with an estimated total of $4 million for the entire year[52] Inventory and Restructuring - As of March 31, 2022, the Company's total inventories increased to $331 million from $262 million as of December 31, 2021[36] - As of March 31, 2022, the Company's restructuring reserves decreased to $16 million from $18 million as of December 31, 2021[33] - The Company recorded $1 million of restructuring expense primarily related to employee severance due to the suspension of operations in Russia[36] Market and Economic Conditions - The Company is currently facing significant macro-economic uncertainty, including supply chain disruptions and inflationary pressures, which may negatively impact business operations[153] - The conflict in Ukraine has exacerbated the volatility in prices of commodities and components, affecting the company's cost structure[154] - The company is negotiating with customers regarding cost increases due to rising raw material and transportation costs, but success is uncertain[155] - The automotive mobility market is expected to grow faster than underlying vehicle production volumes as vehicles transition to digital and electric technologies[99] Risk Management - The company is exposed to market risks from changes in currency exchange rates, interest rates, and commodity prices, managed through fixed price contracts and derivative instruments[140] - The company utilizes a strategy of partial coverage for foreign currency exposures, primarily in euros, Chinese renminbi, and Brazilian real[141] - The hypothetical pre-tax gain or loss from a 10% change in currency exchange rates would be $30 million for currency derivative financial instruments as of March 31, 2022[143] Compliance and Controls - The company maintains effective disclosure controls and procedures as of March 31, 2022[147] - There were no changes in the company's internal control over financial reporting that materially affected its effectiveness during the three months ended March 31, 2022[148]

Visteon Corporation (NASDAQ:VC) Q4 2021 Earnings Conference Call February 17, 2022 9:00 AM ET Company Participants Kristopher Doyle - Vice President, Investor Relations and Treasurer Sachin Lawande - President and Chief Executive Officer Jerome Rouquet - Senior Vice President and Chief Financial Officer Conference Call Participants Joseph Spak - RBC Capital Markets Jason Stuhldreher - Barclays Capital David Kelley - Jefferies Aileen Smith - Bank of America Colin Langan - Wells Fargo Kristopher Doyle Good mo ...

Visteon Q4 and Full-Year 2021 Earnings February 17, 2022 Visteon Full-Year 2021 Summary | --- | --- | --- | |-------------------|----------------|-------------------------| | | | | | | | | | $2,773 Million | $228 Million | $22 Million | | 7% Y/Y Growth (1) | 8.2% Margin | $455 Million Total Cash | MARKET OUTPERFORMANCE DESPITE A CHALLENGING ENVIRONMENT BEST-IN-CLASS PRODUCT PORTFOLIO $5.1 billion in new business wins 9% GoM(2) vs. customer production CONTINUED MARKET OUTPERFORMANCE MAINTAINING STRONG LIQUID ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 Securities registered pursuant to Section 12(g) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 o ...

Visteon Corporation (NASDAQ:VC) Q3 2021 Results Conference Call October 28, 2021 9:00 AM ET Company Participants Kristopher Doyle - Vice President, Investor Relations and Treasurer Sachin Lawande - President and Chief Executive Officer Jerome Rouquet - Senior Vice President and Chief Financial Officer Conference Call Participants Joseph Spak - RBC Capital Markets Luke Junk - Robert W. Baird Ryan Brinkman - J.P. Morgan Brian Johnson - Barclays Capital David Kelley - Jefferies Itay Michaeli - Citi Research Kr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 ________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 001-15827 VISTEON CORPORATION (Exact name of registrant as specified in its charter) S ...

Visteon Corporation (NASDAQ:VC) Q2 2021 Earnings Conference Call July 29, 2021 9:00 AM ET Company Participants Kris Doyle - VP, IR and Treasurer Sachin Lawande - President and CEO Jerome Rouquet - SVP and CFO Conference Call Participants Luke Junk - Baird Shreyas Patil - Wolfe Research Brian Johnson - Barclays Emmanuel Rosner - Deutsche Bank Colin Langan - Wells Fargo Michael Filatov - Berenberg Capital MK Jeff Osborne - Cowen & Company Kris Doyle Good morning. I'm Kris Doyle, Vice President, Investor Rela ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 ________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 001-15827 VISTEON CORPORATION (Exact name of registrant as specified in its charter) State ...

Financial Data and Key Metrics Changes - Visteon's Q1 2021 sales were $746 million, a 14% year-over-year increase when excluding currency effects [8][43] - Adjusted EBITDA for the quarter was $64 million, representing an 8.6% margin, impacted by supply chain costs related to semiconductor shortages which reduced the margin by approximately 190 basis points [8][44] - The company ended the quarter with $486 million in total cash and a net cash position of $137 million [8][47] Business Line Data and Key Metrics Changes - New business bookings in Q1 totaled $1.8 billion, with significant contributions from SmartCore and microZone display technology [9][16] - Approximately 50% of new business wins were for SmartCore, with a lifetime value of about $850 million [9][17] - Incremental margins for Q1 were approximately 30%, benefiting from structural cost reductions implemented in 2020 [10][44] Market Data and Key Metrics Changes - Global industry production increased by 12% in Q1 2021, with most growth occurring in China, which saw a 75% year-over-year increase [11][12] - Visteon's sales growth outperformed the market, primarily due to new product launches and a favorable mix from higher sales in China [15][39] - The company anticipates that the negative regional mix experienced in Q1 will reverse itself in the second half of the year [14][36] Company Strategy and Development Direction - Visteon is focusing on the transition to digital clusters, Android-based infotainment systems, and large displays, which are key industry trends [37][40] - The company expects to maintain its full-year guidance, projecting an 8% increase in industry production volumes [36][41] - Visteon is well-positioned to capitalize on the shift to electric vehicles and the increasing demand for digitalization in automotive cockpits [38][41] Management's Comments on Operating Environment and Future Outlook - Management noted that supply chain constraints, particularly semiconductor shortages, will impact Q2 but expect recovery in the second half of the year [34][35] - The company remains optimistic about the fundamentals of the industry and its position within it, citing strong retail demand and low dealer inventories [32][37] - Management highlighted that the $1.8 billion in new business booked during the quarter supports continued growth above market levels [41][39] Other Important Information - The company has scheduled over 50 new product launches for the year, which are expected to drive growth [33][41] - Visteon is implementing measures to mitigate semiconductor shortages, including purchasing parts through brokers and optimizing logistics [49][50] Q&A Session Summary Question: Thoughts on growth over market ramp throughout the year - Management indicated that Q1 performance was driven by new business wins and expects continued strong performance due to over 50 new product launches scheduled for the year [60][61] Question: Supply chain cost impact in Q1 and expectations for Q2 - Management confirmed that supply chain costs impacted Q1 EBITDA by 190 basis points and expect these costs to continue in Q2 before easing in the second half of the year [65][68] Question: New business wins and outlook for the year - Management expressed confidence in maintaining the cadence of new business wins, with a robust pipeline expected to achieve the $6 billion target for the full year [74][75] Question: Maintaining full year guidance despite semiconductor shortages - Management explained that their guidance was conservative, anticipating an 8% growth in vehicle production, and they remain comfortable with their outlook despite challenges [85][89] Question: Update on Battery Management System (BMS) product - Management reported significant activity with current BMS customers and ongoing engagement with new OEMs, indicating a strong position in the market [91][93]