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Visteon Announces Third Quarter 2024 Results

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Visteon (NASDAQ: VC) reported Q3 2024 financial results with sales of $980 million, achieving 6% growth-over-market. The company posted net income of $39 million ($1.40 per diluted share) and adjusted net income of $63 million ($2.26 per diluted share). Adjusted EBITDA reached $119 million. The quarter saw 30 new product launches and $4.9 billion in year-to-date business wins. Visteon maintains a strong balance sheet with $229 million in net cash and has updated its full-year 2024 guidance, projecting sales of $3.85-3.90 billion and adjusted EBITDA of $465-480 million.

Visteon (NASDAQ: VC) ha riportato i risultati finanziari del terzo trimestre 2024, segnando vendite per $980 milioni, realizzando una crescita del 6% rispetto al mercato. L’azienda ha registrato un utile netto di $39 milioni ($1,40 per azione diluita) e un utile netto rettificato di $63 milioni ($2,26 per azione diluita). L'EBITDA rettificato ha raggiunto $119 milioni. Durante il trimestre sono stati lanciati 30 nuovi prodotti e ci sono stati guadagni commerciali di $4,9 miliardi da inizio anno. Visteon mantiene un solido bilancio con $229 milioni di liquidità netta e ha aggiornato le previsioni per l'intero anno 2024, prevedendo vendite tra $3,85 e $3,90 miliardi e un EBITDA rettificato tra $465 e $480 milioni.

Visteon (NASDAQ: VC) reportó los resultados financieros del tercer trimestre de 2024, con ventas de $980 millones, logrando un crecimiento del 6% por encima del mercado. La empresa publicó un ingreso neto de $39 millones ($1.40 por acción diluida) y un ingreso neto ajustado de $63 millones ($2.26 por acción diluida). El EBITDA ajustado alcanzó $119 millones. Durante el trimestre se lanzaron 30 nuevos productos y se obtuvieron $4.9 mil millones en ganancias comerciales hasta la fecha. Visteon mantiene un sólido balance con $229 millones en efectivo neto y ha actualizado su guía para todo el año 2024, proyectando ventas de $3.85 a $3.90 mil millones y un EBITDA ajustado de $465 a $480 millones.

비스티온(VNASDAQ: VC)은 2024년 3분기 재무 결과를 발표하며 $9억 8천만 달러의 판매를 기록하며 시장 대비 6% 성장하였다고 밝혔습니다. 회사는 순이익이 $3천9백만 달러(희석주당 $1.40)이고 조정된 순이익이 $6천3백만 달러(희석주당 $2.26)라고 보고했습니다. 조정된 EBITDA는 $1억1천9백만 달러에 도달했습니다. 분기 동안 30개의 신제품이 출시되었고 연초부터의 사업 수익은 $49억 달러에 달했습니다. 비스티온은 $2억2천9백만 달러의 순 현금을 보유하고 강력한 재무 상태를 유지하고 있으며, 2024년 전체 가이던스를 업데이트하여 판매는 $38.5~39억 달러, 조정된 EBITDA는 $4억6천5백~$4억8천만 달러로 예상하고 있습니다.

Visteon (NASDAQ: VC) a annoncé les résultats financiers du troisième trimestre 2024, avec des ventes de 980 millions USD, ce qui représente une croissance de 6% par rapport au marché. L'entreprise a enregistré un bénéfice net de 39 millions USD (1,40 USD par action diluée) et un bénéfice net ajusté de 63 millions USD (2,26 USD par action diluée). L'EBITDA ajusté a atteint 119 millions USD. Au cours du trimestre, 30 nouveaux produits ont été lancés et 4,9 milliards USD de gains commerciaux ont été réalisés depuis le début de l'année. Visteon maintient un solide bilan avec 229 millions USD de liquidités nettes et a mis à jour ses prévisions pour l'année 2024, estimant des ventes entre 3,85 et 3,90 milliards USD et un EBITDA ajusté entre 465 et 480 millions USD.

Visteon (NASDAQ: VC) hat die finanziellen Ergebnisse für das 3. Quartal 2024 veröffentlicht, mit einem Umsatz von 980 Millionen USD, was einem Marktwachstum von 6% entspricht. Das Unternehmen meldete einen Nettogewinn von 39 Millionen USD (1,40 USD pro verwässerter Aktie) und einen bereinigten Nettogewinn von 63 Millionen USD (2,26 USD pro verwässerter Aktie). Das bereinigte EBITDA erreichte 119 Millionen USD. Im Laufe des Quartals wurden 30 neue Produkte eingeführt und es wurden bis dato 4,9 Milliarden USD an Geschäftserfolgen erzielt. Visteon hat eine starke Bilanz mit 229 Millionen USD an Nettobarbeständen und hat die Prognose für das Gesamtjahr 2024 aktualisiert, mit einem Umsatz von 3,85 bis 3,90 Milliarden USD und einem bereinigten EBITDA von 465 bis 480 Millionen USD.

Positive
  • Q3 sales reached $980 million with 6% growth-over-market
  • Strong balance sheet with $229 million net cash position
  • Secured $4.9 billion in new business wins year-to-date
  • Positive cash flow with $224 million from operations in first nine months
  • 30 new product launches in Q3, 71 year-to-date
Negative
  • Lower customer production impacting sales
  • Reduced customer recoveries due to improved semiconductor supply
  • Restructuring expenses affected Q3 2024 net income

Insights

Visteon's Q3 results demonstrate resilience with $980 million in sales and a notable 6% growth-over-market performance. The $39 million net income and $119 million adjusted EBITDA reflect strong operational execution despite challenging market conditions. Key positives include $4.9 billion in new business wins year-to-date and a healthy net cash position of $229 million.

The company's strategic focus on digital cockpit and electrification products is paying off, with 30 new product launches in Q3 alone. The updated 2024 guidance projecting sales of $3.85-3.90 billion and adjusted EBITDA of $465-480 million suggests continued momentum. The strong balance sheet and diversification into adjacent markets like two-wheelers and commercial vehicles position Visteon well for sustainable growth.

VAN BUREN TOWNSHIP, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Visteon Corporation (NASDAQ: VC) today reported third quarter financial results. Highlights include:

  • Sales of $980 million with Growth-over-Market of 6%1
  • Net income of $39 million and adjusted net income of $63 million
  • Adjusted EBITDA of $119 million
  • Launched 30 new products in the quarter and 71 year-to-date
  • New business wins of $4.9 billion year-to-date
  • Net cash of $229 million at quarter end

Visteon reported solid net sales of $980 million in a challenging production environment. We delivered 6% outperformance relative to customer vehicle production, driven by strong demand for digital cockpit and electrification products. Our market outperformance was offset by lower customer production and reduced customer recoveries resulting from improved semiconductor supply.

Gross margin in the third quarter was $131 million. Net income attributable to Visteon was $39 million or $1.40 per diluted share and adjusted net income, a non-GAAP measure defined below, was $63 million or $2.26 per diluted share. Net income, as compared to the prior year, includes the favorable impact of strong operational performance and lower net engineering, partially offset by restructuring expense incurred in the third quarter of 2024. Adjusted EBITDA, a non-GAAP measure defined below, was $119 million in the third quarter and reflects the Company’s strong focus on operational execution, commercial excellence, and cost discipline.

For the first nine months, cash from operations was $224 million, capital expenditures were $96 million and adjusted free cash flow, a non-GAAP measure defined below, was $135 million. The company ended the third quarter with cash of $553 million and debt of $324 million. Our strong balance sheet, with a net cash position of $229 million, provides the flexibility to deliver on our capital allocation priorities.

Visteon launched 30 new products in the third quarter, with launches across each of its product lines. Key third quarter launches include an infotainment display system on the Tata Punch, highlighting our continued momentum in India; SmartCore(TM) on an electric SUV for Lynk & Co for the European market and the Renault Grand Koleos hybrid for the Korean market; a digital cluster on the Nissan Qashqai, a popular SUV in Europe; and a wireless BMS for the all-electric Jeep Wagoneer.

Visteon secured $4.9 billion in new business through the first nine months of the year, including $2.5 billion of wins with OEMs in Asia excluding China. Our success in diversifying into adjacent end-markets also continued, with further momentum with two-wheeler and commercial vehicle OEMs. Third quarter wins included a large, curved display for multiple mass market vehicles in Europe for a global OEM, SmartCore™ and display wins for a SUV model for an Indian OEM and for an electric vehicle for a domestic China OEM. We also had a follow-on win for a digital cluster with a two-wheeler OEM in India.

“Visteon delivered solid sales and growth-over-market in the third quarter, demonstrating our ability to navigate a challenging customer production environment,” said President and CEO Sachin Lawande. "Demand from our customers remains robust for our diverse product portfolio targeting automotive megatrends of digitalization and electrification. Our continued success in securing new business wins and our momentum with two-wheeler and commercial vehicle OEMs provide a strong foundation for future growth."

Based on our year-to-date performance and outlook for the fourth quarter, Visteon is updating its full-year 2024 guidance and anticipates sales in the range of $3.85$3.90 billion, adjusted EBITDA in the range of $465$480 million, and adjusted free cash flow in the range of $165$185 million.

About Visteon

Visteon is advancing mobility through innovative technology solutions that enable a software-defined and electric future. With next-generation digital cockpit and electrification products, Visteon leverages the strength and agility of its global network with a local footprint to deliver a cleaner, safer and more connected vehicle experience. Headquartered in Van Buren Township, Michigan, Visteon operates in 17 countries worldwide, recorded approximately $3.95 billion in annual sales and booked $7.2 billion of new business in 2023. Learn more at investors.visteon.com/.

Conference Call and Presentation
Today, Thursday, October 24, at 9 a.m. ET, the company will host a conference call for the investment community to discuss the quarter’s results and other related items. The conference call is available to the general public via a live audio webcast.

The dial-in numbers to participate in the call are:

U.S./Canada: 1-888-330-2508
Outside U.S./Canada: 1-240-789-2735
Conference ID: 8897485  

(Call approximately 10 minutes before the start of the conference.)

The conference call and live audio webcast, related presentation materials and other supplemental information will be accessible in the Investors section of Visteon’s website.

Use of Non-GAAP Financial Information

Because not all companies use identical calculations, adjusted EBITDA, adjusted net income, adjusted EPS, free cash flow and adjusted free cash flow used throughout this press release may not be comparable to other similarly titled measures of other companies.

In order to provide the forward-looking non-GAAP financial measures for full-year 2024, the company provides reconciliations to the most directly comparable GAAP financial measures on the subsequent slides. The provision of these comparable GAAP financial measures is not intended to indicate that the company is explicitly or implicitly providing projections on those GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the company at the date of this press release and the adjustments that management can reasonably predict.

Forward-looking Information

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "will," "may," "designed to," "outlook," "believes," "should," "anticipates," "plans," "expects," "intends," "estimates," "forecasts" and similar expressions identify certain of these forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including, but not limited to:

  • continued and future impacts of the geopolitical conflicts and related supply chain disruptions, including but not limited to the conflicts in the Middle East, Russia and East Asia and the possible imposition of sanctions;
  • significant or prolonged shortage of critical components from our suppliers, including but not limited to semiconductors, and particularly those who are our sole or primary sources;
  • failure of the Company’s joint venture partners to comply with contractual obligations or to exert influence or pressure in China;
  • conditions within the automotive industry, including (i) the automotive vehicle production volumes and schedules of our customers, (ii) the financial condition of our customers and the effects of any restructuring or reorganization plans that may be undertaken by our customers, including work stoppages at our customers, and (iii) possible disruptions in the supply of commodities to us or our customers due to financial distress, work stoppages, natural disasters or civil unrest;
  • our ability to satisfy future capital and liquidity requirements; including our ability to access the credit and capital markets at the times and in the amounts needed and on terms acceptable to us; our ability to comply with financial and other covenants in our credit agreements; and the continuation of acceptable supplier payment terms;
  • our ability to access funds generated by foreign subsidiaries and joint ventures on a timely and cost-effective basis;
  • general economic conditions, including changes in interest rates and fuel prices; the timing and expenses related to internal restructurings, employee reductions, acquisitions or dispositions and the effect of pension and other post-employment benefit obligations;
  • disruptions in information technology systems including, but not limited to, system failure, cyber-attack, malicious computer software (malware including ransomware), unauthorized physical or electronic access, or other natural or man-made incidents or disasters;
  • increases in raw material and energy costs and our ability to offset or recover these costs; increases in our warranty, product liability and recall costs or the outcome of legal or regulatory proceedings to which we are or may become a party;
  • changes in laws, regulations, policies or other activities of governments, agencies and similar organizations, domestic and foreign, that may tax or otherwise increase the cost of, or otherwise affect, the manufacture, licensing, distribution, sale, ownership or use of our products or assets; and
  • those factors identified in our filings with the SEC (including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by our subsequent filings with the Securities and Exchange Commission).

Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The financial results presented herein are preliminary and unaudited; final financial results will be included in the company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024. New business wins and re-wins do not represent firm orders or firm commitments from customers, but are based on various assumptions, including the timing and duration of product launches, vehicle production levels, customer price reductions and currency exchange rates.

Follow Visteon:

https://www.linkedin.com/company/visteon 
https://twitter.com/visteon 
https://www.facebook.com/VisteonCorporation 
https://www.youtube.com/user/Visteon
https://www.instagram.com/visteon/ 
https://mp.weixin.qq.com/?lang=en_US 
https://m.weibo.cn/u/6605315328 
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VISTEON CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In millions except per share amounts)
(Unaudited)
 
 Three Months Ended Nine Months Ended
 September 30, September 30,
  2024   2023   2024   2023 
        
Net sales$980  $1,014  $2,927  $2,964 
Cost of sales (849)  (871)  (2,530)  (2,607)
Gross margin 131   143   397   357 
Selling, general and administrative expenses (51)  (52)  (152)  (156)
Restructuring, net (28)     (31)  (2)
Interest expense, net    (1)     (7)
Equity in net income (loss) of non-consolidated affiliates (3)  (1)  (7)  (8)
Other income (expense), net 2   3   7   (4)
Income (loss) before income taxes 51   92   214   180 
Provision for income taxes (11)  (21)  (55)  (48)
Net income (loss) 40   71   159   132 
Less: Net (income) loss attributable to non-controlling interests (1)  (5)  (7)  (12)
Net income (loss) attributable to Visteon Corporation$39  $66  $152  $120 
        
Comprehensive income (loss)$69  $58  $153  $114 
Less: Comprehensive (income) loss attributable to non-controlling interests (7)  (4)  (10)  (6)
Comprehensive income (loss) attributable to Visteon Corporation$62  $54  $143  $108 
        
Basic earnings (loss) per share attributable to Visteon Corporation$1.41  $2.35  $5.51  $4.26 
        
Diluted earnings (loss) per share attributable to Visteon Corporation$1.40  $2.32  $5.45  $4.20 
        
Average shares outstanding (in millions)       
Basic 27.6   28.1   27.6   28.2 
Diluted 27.9   28.5   27.9   28.6 



VISTEON CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In millions)
 
 (Unaudited)  
 September 30, December 31,
  2024   2023 
ASSETS   
Cash and equivalents$550  $515 
Restricted cash 3   3 
Accounts receivable, net 719   666 
Inventories, net 321   298 
Other current assets 109   134 
Total current assets 1,702   1,616 
    
Property and equipment, net 438   418 
Intangible assets, net 157   90 
Right-of-use assets 103   109 
Investments in non-consolidated affiliates 27   35 
Deferred tax assets 387   384 
Other non-current assets 79   75 
Total assets$2,893  $2,727 
    
LIABILITIES AND EQUITY   
Short-term debt$18  $18 
Accounts payable 547   551 
Accrued employee liabilities 98   99 
Current lease liability 29   30 
Other current liabilities 245   233 
Total current liabilities 937   931 
    
Long-term debt, net 306   318 
Employee benefits 143   160 
Non-current lease liability 79   79 
Deferred tax liabilities 46   31 
Other non-current liabilities 109   85 
    
Stockholders’ equity:   
Common stock 1   1 
Additional paid-in capital 1,369   1,356 
Retained earnings 2,426   2,274 
Accumulated other comprehensive loss (263)  (254)
Treasury stock (2,348)  (2,339)
Total Visteon Corporation stockholders’ equity 1,185   1,038 
Non-controlling interests 88   85 
Total equity 1,273   1,123 
Total liabilities and equity$2,893  $2,727 



VISTEON CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
 
 Three Months Ended Nine Months Ended
 September 30, September 30,
  2024   2023   2024   2023 
OPERATING       
Net income (loss)$40  $71  $159  $132 
Adjustments to reconcile net income (loss) to net cash provided from (used by) operating activities:       
Depreciation and amortization 25   24   71   79 
Non-cash stock-based compensation 10   9   31   26 
Equity in net loss (income) of non-consolidated affiliates, net of dividends remitted 3   1   7   8 
Tax valuation allowance benefit (7)     (7)   
Other non-cash items 3   1   10   (3)
Changes in assets and liabilities:       
Accounts receivable (6)  (12)  (55)  (19)
Inventories    6   (23)  23 
Accounts payable (5)  35   3   (54)
Other assets and other liabilities 35   (8)  28   (23)
Net cash provided from (used by) operating activities 98   127   224   169 
INVESTING       
Capital expenditures, including intangibles (28)  (31)  (96)  (82)
Acquisition of business, net of cash acquired (48)     (48)   
Contributions to equity method investments (1)  (1)  (1)  (1)
Loan provided to non-consolidated affiliate       (5)   
Other 1   1   2   3 
Net cash used by investing activities (76)  (31)  (148)  (80)
FINANCING       
Dividends to non-controlling interests    (12)     (27)
Short-term debt, net    (3)      
Repurchase of common stock    (46)  (20)  (76)
Stock based compensation tax withholding payments    (1)  (7)  (16)
Proceeds from the exercise of stock options    4      8 
Principal repayment of term debt facility (4)  (4)  (13)  (8)
Net cash used by financing activities (4)  (62)  (40)  (119)
Effect of exchange rate changes on cash 27   (8)  (1)  (8)
Net decrease in cash, equivalents, and restricted cash 45   26   35   (38)
Cash, equivalents, and restricted cash at beginning of the period 508   459   518   523 
Cash, equivalents, and restricted cash at end of the period$553  $485  $553  $485 



VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)

Adjusted EBITDA: Adjusted EBITDA is presented as a supplemental measure of the Company's performance that management believes is useful to investors because the excluded items may vary significantly in timing or amounts and/or may obscure trends useful in evaluating and comparing the Company's operating activities across reporting periods. The Company defines adjusted EBITDA as net income attributable to the Company adjusted to eliminate the impact of depreciation and amortization, provision for (benefit from) income taxes, non-cash stock-based compensation expense, net interest expense, net income attributable to non-controlling interests, net restructuring expense, equity in net (income)/loss of non-consolidated affiliates, gain on non-consolidated affiliate transactions, and other gains and losses not reflective of the Company's ongoing operations. Because not all companies use identical calculations, this presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies.

 Three Months Ended Nine Months Ended Estimated
 September 30, September 30, Full Year
Visteon: 2024   2023   2024   2023   2024 
Net income attributable to Visteon Corporation$39  $66  $152  $120   202 
Depreciation and amortization 25   24   71   79   96 
Provision for income taxes 11   21   55   48   75 
Non-cash, stock-based compensation expense 10   9   31   26   42 
Restructuring, net 28      31   2   34 
Interest expense, net    1      7    
Net income attributable to non-controlling interests 1   5   7   12   10 
Equity in net loss (income) of non-consolidated affiliates 3   1   7   8   9 
Other 2   1   3   15   5 
Adjusted EBITDA$119  $128  $357  $317  $4732 
          

Adjusted EBITDA is not a recognized term under U.S. GAAP and does not purport to be a substitute for net income as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool and is not intended to be a measure of cash flow available for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. In addition, the Company uses adjusted EBITDA (i) as a factor in incentive compensation decisions, (ii) to evaluate the effectiveness of the Company's business strategies, and (iii) because the Company's credit agreements use similar measures for compliance with certain covenants.

VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)

Free Cash Flow and Adjusted Free Cash Flow: Free cash flow and adjusted free cash flow are presented as supplemental measures of the Company's liquidity that management believes are useful to investors in analyzing the Company's ability to service and repay its debt. The Company defines free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles. The Company defines adjusted free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles as further adjusted for restructuring related payments. Because not all companies use identical calculations, this presentation of free cash flow and adjusted free cash flow may not be comparable to other similarly titled measures of other companies.

 Three Months Ended Nine Months Ended Estimated
 September 30, September 30, Full Year
Visteon: 2024   2023   2024   2023   2024 
Cash provided from (used by) operating activities$98  $127  $224  $169   305 
Capital expenditures, including intangibles (28)  (31)  (96)  (82)  (145)
Free cash flow$70  $96  $128  $87  $160 
Restructuring related payments 3   2   7   6   15 
Adjusted free cash flow$73  $98  $135  $93  $1753 
 

Free cash flow and adjusted free cash flow are not recognized terms under U.S. GAAP and do not purport to be a substitute for cash flows from operating activities as a measure of liquidity. Free cash flow and adjusted free cash flow have limitations as analytical tools as they do not reflect cash used to service debt and do not reflect funds available for investment or other discretionary uses. In addition, the Company uses free cash flow and adjusted free cash flow (i) as factors in incentive compensation decisions and (ii) for planning and forecasting future periods.

VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)

Adjusted Net Income and Adjusted Earnings Per Share: Adjusted net income and adjusted earnings per share are presented as supplemental measures that management believes are useful to investors in analyzing the Company's profitability, providing comparability between periods by excluding certain items that may not be indicative of recurring business operating results. The Company believes management and investors benefit from referring to these supplemental measures in assessing company performance and when planning, forecasting and analyzing future periods. The Company defines adjusted net income as net income attributable to Visteon adjusted to eliminate the impact of restructuring expense, loss on divestiture, gain on non-consolidated affiliate transactions, other gains and losses not reflective of the Company's ongoing operations and related tax effects. The Company defines adjusted earnings per share as adjusted net income divided by diluted shares. Because not all companies use identical calculations, this presentation of adjusted net income and adjusted earnings per share may not be comparable to other similarly titled measures of other companies.

 Three Months Ended Nine Months Ended
 September 30, September 30,
  2024   2023   2024   2023 
Net income attributable to Visteon$39  $66  $152  $120 
        
Diluted earnings per share:       
Net income attributable to Visteon$39  $66  $152  $120 
Average shares outstanding, diluted 27.9   28.5   27.9   28.6 
Diluted earnings per share$1.40  $2.32  $5.45  $4.20 
        
Adjusted net income and adjusted earnings per share:       
Net income attributable to Visteon$39  $66  $152  $120 
Restructuring, net 28      31   2 
Other 2   1   3   15 
Tax impacts of adjustments (6)     (7)   
Adjusted net income$63  $67  $179  $137 
Average shares outstanding, diluted 27.9   28.5   27.9   28.6 
Adjusted earnings per share$2.26  $2.35  $6.42  $4.79 
        

Adjusted net income and adjusted earnings per share are not recognized terms under U.S. GAAP and do not purport to be a substitute for profitability. Adjusted net income and adjusted earnings per share have limitations as analytical tools as they do not consider certain restructuring and transaction-related payments and/or expenses. In addition, the Company uses adjusted net income and adjusted earnings per share for internal planning and forecasting purposes.

1 Excludes Y/Y impact of currency fluctuations
2 Based on mid-point of the range of the Company's financial guidance
3 Based on mid-point of the range of the Company's financial guidance


FAQ

What were Visteon's (VC) Q3 2024 sales and earnings?

Visteon reported Q3 2024 sales of $980 million, net income of $39 million ($1.40 per diluted share), and adjusted net income of $63 million ($2.26 per diluted share).

How many new products did Visteon (VC) launch in Q3 2024?

Visteon launched 30 new products in Q3 2024, bringing the total to 71 launches year-to-date across all product lines.

What is Visteon's (VC) updated guidance for full-year 2024?

Visteon updated its 2024 guidance to sales of $3.85-3.90 billion, adjusted EBITDA of $465-480 million, and adjusted free cash flow of $165-185 million.

What was Visteon's (VC) net cash position in Q3 2024?

Visteon ended Q3 2024 with a net cash position of $229 million, comprising $553 million in cash and $324 million in debt.

VISTEON CORPORATION

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