Visteon(VC)2025-04-24 11:00Financial Performance - Visteon reported net sales of $934 million in Q1 2025, a slight increase from $933 million in Q1 2024, achieving a 10% outperformance relative to customer vehicle production[2][3] - Gross margin for the first quarter was $138 million, with net income attributable to Visteon at $65 million, or $2.36 per diluted share[3][16] - Comprehensive income attributable to Visteon Corporation was $84 million in Q1 2025, compared to $28 million in Q1 2024[16] - Visteon Corporation reported a net income of $65 million for the three months ended March 31, 2025, compared to $42 million in the same period of 2024, representing a 55% increase[22] - Adjusted EBITDA for Visteon was $129 million for Q1 2025, up from $102 million in Q1 2024, reflecting a 26.5% growth[22] - Diluted earnings per share rose to $2.36 in Q1 2025 from $1.50 in Q1 2024, indicating a 57.3% increase[26] - Adjusted net income for Visteon was $66 million in Q1 2025, compared to $45 million in Q1 2024, which is a 46.7% increase[26] Cash Flow and Financial Position - Cash from operations was $70 million, with adjusted free cash flow of $38 million, ending the quarter with cash of $658 million and debt of $315 million, resulting in a net cash position of $343 million[4][7] - Free cash flow increased to $35 million in Q1 2025 from $32 million in Q1 2024, marking a 9.4% rise[24] - Adjusted free cash flow also saw an increase, reaching $38 million in Q1 2025 compared to $34 million in Q1 2024, a growth of 11.8%[24] - Cash provided from operating activities was $70 million in Q1 2025, slightly up from $69 million in Q1 2024[24] - The company reported a net cash increase of $32 million in Q1 2025, compared to a decrease of $11 million in Q1 2024[20] - Visteon’s cash, equivalents, and restricted cash at the end of the period stood at $658 million, up from $507 million at the end of Q1 2024[20] Business Development and Operations - Visteon secured $1.9 billion in new business in Q1 2025, including significant wins with OEMs in Asia and the two-wheeler market[5][8] - The company launched 16 new products in Q1 2025, focusing on digital cockpit products and electrification technologies for hybrid and EV models[6][8] Market Outlook - The automotive industry outlook has become uncertain due to evolving tariff dynamics, leading Visteon to not reaffirm full-year 2025 guidance[8][12] Balance Sheet - Total assets as of March 31, 2025, were $2.997 billion, an increase from $2.862 billion at the end of 2024[18] - Total liabilities and equity as of March 31, 2025, were $2.997 billion, reflecting a healthy balance sheet with total stockholders' equity of $1.313 billion[18] Capital Expenditures - Capital expenditures, including intangibles, decreased to $35 million in Q1 2025 from $37 million in Q1 2024[24]