Visteon(US:VC)2025-10-23 11:03Financial Performance - Visteon reported net sales of $917 million for Q3 2025, a decline of 6% year-over-year, primarily due to reduced sales of Battery Management Systems in the U.S. and a decline in China[4]. - Gross margin for the third quarter was $131 million, with net income attributable to Visteon at $57 million, or $2.04 per diluted share[5]. - The company’s comprehensive income attributable to Visteon Corporation for Q3 was $57 million, compared to $62 million in the same quarter of the previous year[20]. - Net income attributable to Visteon Corporation for Q3 2025 was $57 million, compared to $39 million in Q3 2024, representing a 46% increase[26]. - Adjusted net income for Q3 2025 was $60 million, compared to $63 million in Q3 2024, reflecting a slight decrease[32]. - Diluted earnings per share for Q3 2025 were $2.04, up from $1.40 in Q3 2024, indicating a 46% increase[32]. Cash Flow and Expenditures - The company generated $292 million in operating cash flow and $215 million in adjusted free cash flow for the first nine months of 2025, with capital expenditures of $88 million[6]. - Free cash flow for Q3 2025 was $105 million, compared to $70 million in Q3 2024, marking a 50% increase[29]. - Cash provided from operating activities for the nine months ended September 30, 2025, was $292 million, up from $224 million in the same period of 2024[29]. - Capital expenditures, including intangibles, for Q3 2025 were $22 million, down from $28 million in Q3 2024[29]. Business Development - Visteon secured $1.8 billion in new business wins during the third quarter, bringing the year-to-date total to $5.7 billion, driven by advanced display and SmartCore cockpit domain controller programs[7]. - The company launched 28 new products across ten OEMs in Q3, including a SmartCore cockpit domain controller for the Zeekr 001 electric SUV and an audio infotainment system for the Ford Super-Duty[9]. Guidance and Outlook - Visteon maintains its full-year 2025 guidance of $3.70 – $3.85 billion in sales, with adjusted EBITDA expected to be between $475 – $505 million[10]. - The company expects full-year adjusted EBITDA to reach approximately $1.490 billion for 2025[26]. Balance Sheet and Shareholder Returns - The company ended Q3 with a strong balance sheet, reporting $765 million in cash and $306 million in debt, resulting in a net cash position of $459 million[6]. - Visteon paid its first quarterly dividend during the third quarter, reflecting its commitment to shareholder returns[8]. - Total assets increased to $3.254 billion as of September 30, 2025, up from $2.862 billion at the end of 2024[22]. - The company reported a net cash increase of $94 million for Q3 2025, compared to a $45 million increase in Q3 2024[24]. EBITDA Performance - Adjusted EBITDA for Q3 2025 was $119 million, consistent with Q3 2024, while year-to-date adjusted EBITDA reached $382 million, up from $357 million in the same period last year[29]. - The average shares outstanding, diluted, remained stable at 27.9 million for both Q3 2025 and Q3 2024[32].