VISTEON CORPORATION - VC STOCK NEWS

Visteon Corporation to release Q3 2023 financial results on Oct. 26

Visteon named finalist for Automotive News PACE Awards for Motorcycle Integrated Cockpit Domain Controller and smartBMS products.

Visteon Corporation (NASDAQ: VC) reported second quarter financial results, with sales of $983 million, up 18% from the prior year. Net income was $20 million, adjusted net income was $34 million, and adjusted EBITDA was $90 million. The company reiterated full year 2023 guidance and reported $4 billion in new business wins in the first half, including the first new business win in power electronics for electric vehicles.

Visteon Corporation (Nasdaq: VC) will release its second-quarter 2023 financial results on August 3, followed by a conference call for the investment community at 9 a.m. ET. The call will be available to the public via live audio webcast. Access to the call and related materials will be provided through Visteon’s website, with a replay available until August 17.

Visteon Corporation (NASDAQ: VC) reported strong first quarter results, with sales of $967 million, representing a 22% year-over-year increase. This marks the 16th consecutive quarter of growth exceeding market performance. The company achieved a net income of $34 million and an adjusted EBITDA of $99 million, or 10.2% of sales. Notable wins include $1.5 billion in new business, boosting prospects in electrification and digital cockpit technologies. Visteon launched products in 34 vehicle models, including significant collaborations with General Motors and an Indian OEM. The company ended the quarter with $135 million in net cash and expects full-year sales between $3.95 to $4.15 billion. Cash flow from operations was recorded at ($19 million), while capital expenditures reached $21 million.

Visteon Corporation has appointed Ryan Wentling as Vice President of Investor Relations and Treasurer, effective immediately, succeeding Kris Doyle. Wentling's responsibilities include managing investor relations, treasury, strategic planning, and corporate development. He previously served at Constellium and has equity research experience at Cowen and auditing experience at Deloitte. Kris Doyle will now lead the global finance function as Vice President of Operations Finance and FP&A. Visteon is dedicated to enhancing the mobility industry with innovative solutions and reported approximately $3.76 billion in annual sales with $6 billion of new business in 2022.

Visteon Corporation (Nasdaq: VC) will announce its first quarter 2023 financial results on April 27, before the market opens. The company plans to hold a conference call at 9 a.m. ET to discuss these results, which will also be accessible to the public via a live audio webcast. The U.S./Canada toll-free dial-in number is 1-888-330-2508, while international participants can call 1-240-789-2735 with the passcode 8897485. Following the call, a replay will be available until May 11. Visteon, headquartered in Van Buren Township, Michigan, achieved approximately $3.76 billion in annual sales and secured $6 billion in new business in 2022. The company is focused on enhancing the driving experience through innovative digital, electric, and autonomous solutions.

Visteon Corporation (Nasdaq: VC) announced a $300 million share repurchase program, effective until December 31, 2026. Funding will come from excess cash and future cash flow. CEO Sachin Lawande emphasized this initiative highlights the board's confidence in Visteon’s strategic growth plan, focusing on digital, software-defined, and electric automotive solutions. Repurchases will occur through open market or privately negotiated transactions, dependent on market conditions and other factors. In 2022, Visteon reported $3.76 billion in sales and secured $6 billion in new business.

Visteon Corporation (NASDAQ: VC) will hold its 2023 Investor Day on March 7, 2023, in New York City. The event, starting at 9 a.m. ET, will feature key insights from President and CEO Sachin Lawande and CFO Jerome Rouquet. The management team will discuss the company's strategic initiatives, technology advancements, and financial targets, concluding around noon with a Q&A session. While in-person attendance is limited to invited guests, the webcast will be publicly accessible. A replay and presentation slides will be available later on the company’s investor relations site.