This quarterly report represents an earnings surprise of 29.59%. A quarter ago, it was expected that this auto parts supplier would post earnings of $1.75 per share when it actually produced earnings of $1.61, delivering a surprise of -8%. Visteon, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $1.01 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.53%. This compares to year-ago revenues of $983 million. The company has not been able ...

For the quarterly period ended June 30, 2024 | --- | --- | --- | --- | |------------------------|-------------------------------------------------------------------------------------------------------|---------------------|--------------------------------------| | | | | | | | | | | | | | | | | | For the transition period from ____________ to ____________ | | | | | Commission file number 001-15827 VISTEON CORPORATION (Exact name of registrant as specified | in its charter) | | | | | | | | | State of Delaware ...

The company won $3.1 billion of new business in the first half of the year, including nearly $1.8 billion of display wins. Visteon continues to successfully diversify its customer base, with over $1.8 billion of wins with Rest of Asia OEMs in the first half. Second quarter wins included several significant display wins, including a large, curved OLED display for a luxury vehicle platform for a Japanese OEM and a dual display for a SUV for another Japanese OEM. Visteon also won an audio infotainment and dual ...

Visteon Corporation (NASDAQ:VC) is a June 2000 spin-off from Ford (F). This U.S. automaker remains its largest customer, accounting for 22% of 2023 sales. However, the company now serves the whole auto/truck industry, mostly manufacturing the display video/panels on your dashboard and various instruments/devices/inventions for measuring and controlling onboard electronics. It is now becoming an important supplier of displays and electronics for accelerating growth at a host of electric vehicle OEMs, with ne ...

Visteon Corporation (NASDAQ:VC) Q1 2024 Earnings Call Transcript April 25, 2024 9:00 AM ET Company Participants Ryan Wentling - VP, IR & Treasurer Sachin Lawande - President & CEO Jerome Rouquet - SVP & CFO Conference Call Participants Dan Levy - Barclays Joe Spak - UBS Luke Junk - Baird James Picariello - BNP Itay Michaeli - Citi Research Shreyas Patil - Wolfe Research Mark Delaney - Goldman Sachs Ryan Wentling Good morning. I'm Ryan Wentling, Vice President of Investor Relations and Treasurer. Welcome to ...

(Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 ________________ FORM 10-Q Commission file number 001-15827 VISTEON CORPORATION (Exact name of registrant as specified in its charter) | Sta ...

Exhibit 99.1 NEWS RELEASE Visteon Announces First Quarter 2024 Financial Results VAN BUREN TOWNSHIP, Mich., April 25, 2024 — Visteon Corporation (NASDAQ: VC) today reported first quarter financial results. Highlights include: Visteon reported net sales of $933 million compared to $967 million in the first quarter of the prior year. The decline in net sales was primarily due to lower recoveries resulting from improved semiconductor supply in the first quarter of 2024 and 1% lower customer vehicle production. ...

Visteon Corporation (NASDAQ:VC) Q4 2023 Earnings Conference Call February 20, 2024 9:00 AM ET Company Participants Ryan Wentling - VP, IR & Treasurer Sachin Lawande - President & CEO Jerome Rouquet - SVP & CFO Conference Call Participants Joe Spak - UBS Justin Barell - Citi Dan Levy - Barclays Luke Junk - Baird John Babcock - Bank of America Colin Langan - Wells Fargo Mark Delaney - Goldman Sachs Ryan Wentling Good morning. I'm Ryan Wentling, Vice President of Investor Relations and Treasurer. Welcome to ou ...

Visteon Q4 and Full-Year 2023 Earnings 2023 in Review | --- | --- | --- | |-----------|-----------------|--------------| | | | | | Net Sales | Adjusted EBITDA | Adjusted FCF | 2 (1) Excludes Y/Y impact of supply chain recoveries. Added ~$1 billion in base sales over two years (Dollars in millions) | --- | --- | |-------|--------------------------------------------------------------------------------------------------------------------------| | | 2023 Achievements | | | Gaining Share in Digital Clusters Exte ...

Financial Performance - Visteon reported net sales of $3,954 million for the year ended December 31, 2023, representing a year-over-year increase of 5% and a base sales growth of 12% when excluding pricing impacts from supply chain recoveries [130]. - Adjusted EBITDA for 2023 was $434 million, or 11% of sales, reflecting operational leverage from higher volumes and cost discipline, an increase of $86 million compared to 2022 [130]. - Visteon's gross margin improved to $487 million in 2023, up from $368 million in 2022, driven by favorable cost performance and design changes [133]. - Net income attributable to Visteon Corporation for 2023 was $486 million, a significant increase of $362 million compared to $124 million in 2022 [133]. - Adjusted EBITDA for the year ended December 31, 2023, was $434 million, an increase of $86 million from $348 million in 2022, driven by favorable volumes and mix [147]. Cash Flow and Investments - The company generated $267 million in cash from operating activities in 2023, up from $167 million in 2022, reflecting a $100 million increase [160]. - Net cash used in investing activities increased to $123 million in 2023 from $68 million in 2022, primarily due to a $44 million rise in capital expenditures [162]. - Net cash used in financing activities rose to $156 million in 2023 compared to $9 million in 2022, mainly due to $106 million in common stock repurchases and $29 million in dividends paid [163]. - The company has committed to invest $15 million in two entities focused on the automotive sector, having contributed $12 million towards this commitment as of December 31, 2023 [154]. Balance Sheet and Shareholder Returns - The company maintained a strong balance sheet and announced a $300 million share repurchase program, having repurchased $106 million of common stock in 2023 [127]. - As of December 31, 2023, the company had total cash and equivalents of $518 million, with $383 million located outside the U.S. [151]. - The corporate credit rating as of December 31, 2023, is BB- by Standard & Poor's, influencing access to additional capital [150]. Tax and Pension Obligations - The company recorded a benefit from income taxes of $248 million in 2023, an increase of $293 million compared to the previous year, largely due to a non-cash tax benefit related to deferred tax assets [143]. - The company expects to make contributions of $9 million to its U.S. defined benefit pension plans and $7 million to its non-U.S. plans during 2024 [152]. - The company has approximately $142 million in unfunded net pension liabilities as of December 31, 2023, with $113 million attributable to U.S. plans [174]. Market Conditions and Risks - The global automotive market is expected to grow faster than vehicle production volumes as the industry shifts towards digital, electric, and autonomous vehicles [126]. - Visteon faced challenges from semiconductor shortages but continued proactive initiatives to increase product availability and minimize cost impacts [131]. - The company is exposed to significant risks from supply chain disruptions due to the ongoing conflict between Russia and Ukraine [187]. - The company faces potential impacts from a shortage of critical components, including semiconductors, from suppliers [187]. Currency and Commodity Risk Management - The hypothetical pretax gain or loss from a 10% favorable or adverse change in quoted currency exchange rates is estimated to be approximately $21 million for foreign currency derivative financial instruments as of December 31, 2023 [192]. - The company manages market risks through fixed price contracts and derivative instruments strictly for hedging purposes, not for speculative trading [189]. - The company does not enter into foreign exchange contracts to mitigate translation exposure from foreign operating income into U.S. dollars [191]. - The company may utilize derivatives in the future to manage select commodity risks if acceptable hedging instruments are identified [194]. Operational Challenges - Selling, general, and administrative expenses increased to $207 million in 2023, representing 5.2% of net sales, primarily due to higher personnel costs [137]. - The company recorded a non-cash impairment charge of $5 million in 2022 due to the closure of its Russian facility [169]. - A 25 basis point decrease in the discount rate is expected to have a pretax pension expense impact of less than -$1 million for both U.S. and Non-U.S. plans in 2024 [179]. - A 25 basis point increase in the discount rate is projected to result in a pretax pension expense increase of +$16 million for the U.S. plan in 2023 [179]. - The company anticipates a pretax pension expense increase of +$1.6 million with a 25 basis point decrease in expected return on assets [179]. - The company regularly audits its tax provisions and accrues for contingencies related to income tax risks [183].