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Jun 30, 2023
Visteon Q2 2023 Earnings Report
Visteon's financial performance saw sales increase, driven by higher customer vehicle production and product launches, while also maintaining strong operational and commercial discipline.
Key Takeaways
Visteon Corporation reported a strong second quarter with sales up 18% year-over-year, driven by higher customer vehicle production and ongoing product launches. The company achieved its 17th consecutive quarter of growth-over-market. They reiterated their full year 2023 guidance.
Sales of $983 million, up 18% from prior year
17th consecutive quarter of growth-over-market
Net income of $20 million, Adjusted net income of $34 million
Adjusted EBITDA of $90 million, including $15 million exceptional recall charge
Visteon
Visteon
Forward Guidance
Visteon is maintaining its full-year 2023 guidance and anticipates sales in the range of $3.95 – $4.15 billion, Adjusted EBITDA in the range of $405 – $445 million, and Adjusted Free Cash Flow in the range of $115 – $165 million.