Core Insights - Visteon Corporation reported solid second quarter results, with sales of $969 million, a decrease from $1,014 million year-over-year, primarily due to lower Battery Management System volumes and softness in China, but offset by new program launches [1][2] - The company achieved a gross margin of $141 million and net income of $65 million, translating to $2.36 per diluted share, while adjusted EBITDA was $134 million [2][8] - Visteon generated $165 million in operating cash flow and $105 million in adjusted free cash flow for the first half of 2025, with capital expenditures of $66 million [3][8] Financial Performance - Sales for the second quarter were $969 million, down from $1,014 million in the same quarter last year [1][8] - Net income attributable to Visteon was $65 million, or $2.36 per diluted share, compared to $71 million and $2.54 per diluted share in the prior year [2][29] - Adjusted EBITDA for the quarter was $134 million, supported by operational discipline and cost efficiencies [2][23] Cash Flow and Balance Sheet - The company ended the second quarter with $671 million in cash and $310 million in debt, resulting in a net cash position of $361 million [3][8] - Operating cash flow for the first six months was $165 million, with adjusted free cash flow of $105 million [3][25] - Capital expenditures during the first half were $66 million, reflecting ongoing investments in growth [3][8] Business Development - Visteon secured $2.0 billion in new business wins during the quarter, bringing the year-to-date total to $3.9 billion, driven by advanced display programs [4][8] - The company launched 21 new products across eight OEMs, including significant launches like a 25-inch panoramic display for the Audi Q3 platform [5][8] - A bolt-on acquisition of an engineering services company focused on user experience and HMI was completed for $50 million [6][8] Capital Allocation - The company continues to execute a balanced capital allocation strategy, investing in growth while returning capital to shareholders [6][9] - Visteon plans to resume share repurchases after pausing due to tariff uncertainties, having returned $176 million to shareholders since the beginning of 2023 [7][9] - A quarterly dividend of $0.275 per share was initiated, payable on September 5, 2025 [7][9] Financial Outlook - Visteon updated its full-year 2025 guidance, expecting sales between $3.70 billion and $3.85 billion, and adjusted EBITDA of $475 million to $505 million [10][15]