Financial Performance - Visteon reported net sales of $3,866 million for the year ended December 31, 2024, a decrease of 2% compared to $3,954 million in 2023[125]. - Adjusted EBITDA for 2024 was $474 million, representing a 9% increase from $434 million in 2023, driven by strong commercial and cost discipline[125]. - Net income attributable to Visteon Corporation was $274 million in 2024, down from $486 million in 2023, primarily due to a lower deferred tax valuation allowance release[127]. - Adjusted EBITDA for the year ended December 31, 2024, was $474 million, an increase of $40 million compared to 2023[140]. - Net income attributable to Visteon Corporation for 2024 was $274 million, a decrease of $212 million from $486 million in 2023[139]. - Cash generated from operating activities increased to $427 million in 2024, up $160 million from $267 million in 2023[154]. Business Operations - The company launched 95 new products in 2024, contributing to a total of $6.1 billion in new business wins across various product categories[125]. - The gross margin improved to $531 million in 2024, up from $487 million in 2023, reflecting better cost performance and design changes[127]. - Visteon incurred $32 million in restructuring expenses in 2024, up from $5 million in 2023, as part of a global restructuring plan[132]. - Industry vehicle volumes were approximately 89 million units in 2024, showing a modest decline compared to 2023, with expectations of a slight decline in 2025[124]. - The company spent a net cash outlay of $55 million on inorganic growth in 2024, acquiring an advanced design and R&D services firm and a software firm[122]. Shareholder Actions - The company repurchased $169 million of its common stock under a $300 million share repurchase program announced in March 2023[122]. - The company repurchased 647,755 shares at an average price of $97.97, totaling $63 million under the share repurchase program[150]. Cash and Investments - The company had total cash and equivalents of $626 million as of December 31, 2024, with $489 million located outside the U.S.[146]. - Net cash used in investing activities was $189 million in 2024, an increase of $66 million from $123 million in 2023, primarily due to business acquisitions[155]. - The company has committed to invest $20 million in multiple entities focused on the automotive sector, with $13 million already contributed[149]. Tax and Valuation - The company recorded a $313 million income tax benefit related to the partial release of its U.S. valuation allowance as of December 31, 2023[178]. - The company expects a $49 million income tax benefit in 2024, further reducing the U.S. valuation allowance[179]. - The company has been in a substantive three-year U.S. cumulative income position and reported U.S. income for 10 of the past 12 quarters[177]. Risk Management - The company anticipates ongoing risks related to vehicle affordability, economic uncertainty, and geopolitical challenges affecting future production levels[124]. - The company manages market risks through fixed price contracts and derivative instruments, strictly for hedging purposes[186]. - The company may utilize derivative financial instruments to manage foreign currency exchange rate risks, including forward and option contracts[187]. - The company continues to evaluate derivatives available in the marketplace to manage select commodity risks[191]. - The company faces uncertainties related to U.S. trade policies, supply chain disruptions, and changes in the competitive environment[184]. Pension and Discount Rates - The company expects to contribute approximately $12 million to its defined benefit pension plans in 2025[147]. - The weighted average discount rates for U.S. plans decreased from 5.40% in 2023 to 5.09% in 2024, while non-U.S. plans decreased from 5.33% to 5.06%[171]. - A 25 basis point decrease in the discount rate would result in a decrease of $13 million in the funded status of the U.S. plan for 2024[172]. Currency and Exchange Rates - The hypothetical pretax gain or loss from a 10% change in foreign currency exchange rates would be approximately $20 million for 2024[189].

Financial Performance - Visteon reported Q4 2024 net sales of $939 million, with a 2% market outperformance globally and 8% outside of China[2]. - Full-year 2024 net sales reached $3,866 million, reflecting a 4% outperformance relative to customer production globally and 9% outside of China[4]. - Q4 2024 net income attributable to Visteon was $122 million, or $4.37 per diluted share, a decrease due to a prior year non-cash tax benefit of $313 million[3]. - Net income for the twelve months ended December 31, 2024, was $284 million, a decrease of 43.6% compared to $505 million in 2023[26]. - For the full year 2024, net income attributable to Visteon was $274 million, compared to $486 million in 2023[35]. - The estimated full-year net income for 2025 is projected to be $230 million[30]. Earnings and Adjusted Metrics - Full-year 2024 adjusted EBITDA was a record $474 million, an increase of $40 million compared to the prior year, with an adjusted EBITDA margin of 12.3%[5]. - Adjusted EBITDA for the twelve months ended December 31, 2024, was $474 million, up from $434 million in 2023, indicating a growth of 9.2%[28]. - Adjusted net income for Q4 2024 was $124 million, down from $367 million in Q4 2023[35]. - Diluted earnings per share for Q4 2024 were $4.37, compared to $12.98 in Q4 2023, reflecting a decrease of 66.3%[35]. - The full year adjusted earnings per share for 2024 were $10.86, down from $17.68 in 2023[35]. - Adjusted earnings per share for Q4 2024 were $4.44, down from $13.01 in Q4 2023, a decline of 65.9%[35]. Cash Flow and Capital Management - Operating cash flow for 2024 was $427 million, with record adjusted free cash flow of $300 million[6]. - Free cash flow for the twelve months ended December 31, 2024, was $290 million, an increase of 104.2% compared to $142 million in 2023[32]. - Cash provided from operating activities for the three months ended December 31, 2024, was $203 million, compared to $98 million in the same period of 2023, showing a significant increase of 107.1%[32]. - The company repurchased $63 million of shares in 2024, with $131 million remaining under the share repurchase authorization[7]. - The company repurchased $63 million of common stock in 2024, compared to $106 million in 2023, indicating a decrease of 40.6%[32]. Business Development and Product Launches - Visteon launched 95 new products in 2024, including digital clusters and battery management systems, aligning with trends in software-defined vehicles and electrification[10]. - The company secured $6.1 billion in new business wins in 2024, with significant contributions from digital clusters and SmartCore™ products[8]. - Visteon continues to expand its product portfolio and market presence, particularly with OEMs in Japan, India, and Europe[12]. Balance Sheet and Assets - Total assets increased to $2,862 million in 2024 from $2,727 million in 2023, representing a growth of 4.9%[24]. - Total liabilities decreased slightly to $1,552 million in 2024 from $1,604 million in 2023, a reduction of 3.3%[24]. - Stockholders' equity increased to $1,310 million in 2024 from $1,123 million in 2023, reflecting a growth of 16.7%[24]. - Capital expenditures, including intangibles, were $137 million for the twelve months ended December 31, 2024, compared to $125 million in 2023, an increase of 9.6%[32]. Restructuring and Tax Impacts - The company reported a restructuring and impairment expense of $1 million in Q4 2024, compared to $3 million in Q4 2023[35]. - Tax impacts of adjustments for Q4 2024 were $(2) million, compared to $(4) million in Q4 2023[35]. - The company recognized a non-cash tax benefit of $49 million in 2024, equating to $1.76 per diluted share, while 2023 included a $313 million tax benefit or $11.10 per diluted share[35].

Core Insights - Visteon Corporation reported strong financial performance for the fourth quarter and full year of 2024, with net sales of $939 million in Q4 and $3,866 million for the full year, reflecting market outperformance and successful product launches [1][3][12] - The company achieved a record adjusted EBITDA of $474 million for the full year, driven by operational performance and cost discipline, despite a decline in net income due to prior year tax benefits [4][12] - Visteon secured $6.1 billion in new business wins across various product categories, indicating robust demand and strategic growth initiatives [7][11] Fourth Quarter Financial Results - Net sales for Q4 were $939 million, with a 2% market outperformance globally and 8% outside of China [1] - Gross margin was $134 million, and net income attributable to Visteon was $122 million, or $4.37 per diluted share [2][12] - Adjusted EBITDA for Q4 was $117 million, with an adjusted EBITDA margin of 12.5%, an increase of 70 basis points year-over-year [2] Full-Year Financial Results - Total net sales for 2024 reached $3,866 million, with a 4% outperformance relative to customer production globally [3] - Gross margin for the year was $531 million, and net income attributable to Visteon was $274 million, or $9.82 per diluted share [4][12] - Adjusted EBITDA for the full year was a record $474 million, reflecting a $40 million increase from the previous year, with an adjusted EBITDA margin of 12.3%, up 130 basis points [4] Cash Flow and Share Repurchase - Cash provided by operations was $427 million, with adjusted free cash flow reaching a record $300 million for the year [5][12] - The company repurchased $63 million of shares in 2024 under a $300 million share repurchase authorization [6] New Business Wins and Product Launches - Visteon was awarded $6.1 billion in lifetime sales from new business wins, including significant contracts in digital clusters, SmartCore™, infotainment, displays, and electrification [7][8] - The company launched 95 new products in 2024, aligning with trends in software-defined vehicles and increased digitalization [9] Outlook for 2025 - Visteon anticipates sales in the range of $3.65 billion to $3.85 billion for 2025, with adjusted EBITDA expected between $450 million and $480 million [10]

Wall Street expects a year-over-year decline in earnings on lower revenues when Visteon (VC) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 18, 2025, might help the stock move higher if these key numbers are better than expecta ...

VAN BUREN TOWNSHIP, Mich., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Visteon Corporation (Nasdaq: VC), a global leader in automotive cockpit electronics, will release its fourth quarter and full-year 2024 financial results before the market opens on Tuesday, Feb. 18. The company will host a conference call for the investment community at 9 a.m. ET to discuss the results and related matters. The conference call is also available to the public via a live audio webcast. The dial-in numbers to participate in the call a ...

Visteon Corporation (NASDAQ:VC) Q3 2024 Earnings Conference Call October 24, 2024 9:00 AM ET Company Participants Ryan Wentling - VP of IR and Treasurer Sachin Lawande - President and CEO Jerome Rouquet - SVP and CFO Conference Call Participants Luke Junk - Baird Joe Spak - UBS Mark Delaney - Goldman Sachs James Picariello - BNP Paribas Edison Yu - Deutsche Bank Shreyas Patil - Wolfe Research Operator Thank you for standing by. At this time, I'd like to welcome everyone to Visteon's Third Quarter 2024 Resul ...

Visteon (VC) came out with quarterly earnings of $2.26 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $2.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.58%. A quarter ago, it was expected that this auto parts supplier would post earnings of $1.96 per share when it actually produced earnings of $2.54, delivering a surprise of 29.59%.Over the last four quarters, the compan ...

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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | --- | |------------------------|-------------------------------------------------------------------------------------------------------|------------- ...

Exhibit 99.1 NEWS RELEASE Visteon Announces Third Quarter 2024 Results VAN BUREN TOWNSHIP, Mich., October 24, 2024 — Visteon Corporation (NASDAQ: VC) today reported third quarter financial results. Highlights include: 1 • Sales of $980 million with Growth-over-Market of 6% • Net income of $39 million and adjusted net income of $63 million • Adjusted EBITDA of $119 million • Launched 30 new products in the quarter and 71 year-to-date • New business wins of $4.9 billion year-to-date • Net cash of $229 million ...

VAN BUREN TOWNSHIP, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Visteon Corporation (NASDAQ: VC) today reported third quarter financial results. Highlights include: Sales of $980 million with Growth-over-Market of 6%1Net income of $39 million and adjusted net income of $63 millionAdjusted EBITDA of $119 millionLaunched 30 new products in the quarter and 71 year-to-dateNew business wins of $4.9 billion year-to-dateNet cash of $229 million at quarter end Visteon reported solid net sales of $980 million in a chal ...