Visteon Q2 2020 Earnings Report
Key Takeaways
Visteon announced second-quarter 2020 results with sales outperforming customer production by five percentage points. The company reported $371 million in net sales and a net loss attributable to Visteon of $45 million. Despite the challenging environment, Visteon launched 21 new products during the first half of the year and won $1.7 billion in new business year-to-date.
Net sales reached $371 million, a 48% year-over-year reduction excluding currency effects.
Visteon's sales outperformed customer production by five percentage points.
The company secured $1.7 billion in new business and launched 21 new products year-to-date.
Cash reserves stand at $759 million, with no significant near-term debt maturities.
Visteon
Visteon
Forward Guidance
The company has withdrawn its financial guidance and, due to the continued uncertainty of market conditions, will not be providing revised guidance until there is better clarity regarding the COVID-19 impact.