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Mar 31, 2021
Visteon Q1 2021 Earnings Report
Visteon's Q1 2021 results were announced, demonstrating growth and strategic progress.
Key Takeaways
Visteon reported a strong first quarter with net sales of $746 million, a 14% year-over-year increase excluding currency impacts. The company achieved a net income of $16 million, or $0.56 per diluted share, and adjusted EBITDA of $64 million, representing 8.6% of sales. New business wins totaled $1.8 billion, including key advancements in display and domain controller technologies.
Net sales reached $746 million, up 14% year-over-year excluding currency effects.
Net income stood at $16 million, translating to $0.56 per diluted share.
Adjusted EBITDA was $64 million, which is 8.6% of sales.
Secured $1.8 billion in new business, highlighting microZone™ display and SmartCore™ domain controller wins.
Visteon
Visteon
Forward Guidance
The press release contains forward-looking statements that are subject to risks and uncertainties, including the ongoing COVID-19 pandemic, component shortages, automotive industry conditions, and the company's ability to execute its transformational plans and cost-reduction initiatives.
Challenges Ahead
- Continued and future impacts of the coronavirus (COVID-19) pandemic on our financial condition and business operations including global supply chain disruptions, market downturns, reduced consumer demand and new government actions or restrictions
- 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
- 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 execute on our transformational plans and cost-reduction initiatives in the amounts and on the timing contemplated
- 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