Visteon Q3 sales up 63% to $1,026M; net income $44M; raises FY guidance

VISTEON CORP

2022-Q3 EPS reported $3.16 revenue$2,692,000,000

Sales $1,026M (+63% YoY); net income $44M or $1.54 diluted EPS.
Adjusted EBITDA $95M (9.3% of sales), up $53M YoY.
FY 2022 guidance raised: sales $3.6–$3.7B, Adj EBITDA $325–$345M, Adj FCF $30–$70M.
14th consecutive growth-over-market quarter; 32 new product launches YTD.
$5.0B in new business wins through first three quarters.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

VISTEON CORP reported third quarter of 2022 results: revenue $1,026 million, net income $44 million or $1.54 per diluted share, EPS $1.54 per diluted share. Guidance raised.

Period: third quarter of 2022
Revenue: $1,026 million
Net income: $44 million or $1.54 per diluted share
EPS: $1.54 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Visteon reported net sales of $1,026 million representing a year-over-year increase of 63%, or 69%, excluding the impact of currency, driven by new product launches and positive pricing due to incremental costs recoveries primarily related to semiconductor shortages. The company's sales performance represents the 14 th consecutive quarter of market out-performance. Gross margin in the third quarter was $104 million, and net income attributable to Visteon was $44 million or $1.54 per diluted share.

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Source: SEC EDGAR

accession 0001111335-22-000049

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