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Mar 31, 2023
Visteon Q1 2023 Earnings Report
Visteon's Q1 2023 performance was driven by strong sales growth and new business wins.
Key Takeaways
Visteon reported a strong first quarter with sales up 22% year-over-year, driven by high demand for digital cockpit products. The company secured $1.5 billion in new business wins and maintained its full-year 2023 guidance.
Sales increased by 22% compared to the prior year, reaching $967 million.
Net income was reported at $34 million.
Adjusted EBITDA stood at $99 million, representing 10.2% of sales.
New business wins totaled $1.5 billion, highlighting success in electrification and digital cockpit technologies.
Forward Guidance
Visteon is maintaining its full-year 2023 guidance.
Positive Outlook
- Sales in the range of $3.95 – $4.15 billion
- Adjusted EBITDA in the range of $405 – $445 million
- Adjusted Free Cash Flow in the range of $115 – $165 million
- Continued strong performance driven by best-in-class product portfolio
- Focus on operational and commercial discipline
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
- continued and future impacts related to the conflict between Russia and the Ukraine including supply chain disruptions, reduction in customer demand, and the imposition of sanctions on Russia
- 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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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