Visteon Q1 sales $967M (+22% ex-currency), net income $34M, FY guidance reaffirmed

VISTEON CORP

2023-Q1 EPS reported $1.18 revenue$967,000,000

Sales of $967M, up 22% YoY excluding currency; 16th consecutive quarter of growth over market.
Net income $34M; adjusted EBITDA $99M (10.2% of sales), up $28M YoY.
$1.5B in new business wins, including follow-on wireless BMS for EV truck/SUV and SmartCore wins.
Net cash $135M ($487M cash, $352M debt); FY 2023 guidance maintained: sales $3.95-4.15B, adj. EBITDA $405-445M.
Launched products on 34 vehicle models, including digital cluster on GM Silverado/Sierra HD and SmartCore on Zeekr X.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VISTEON CORP reported the first quarter of 2023 results: revenue $967 million, net income $34 million. Guidance reaffirmed.

Period: the first quarter of 2023
Revenue: $967 million
Net income: $34 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

2023 Results VAN BUREN TOWNSHIP, Mich., April 27, 2023 — Visteon Corporation (NASDAQ: VC) today reported first quarter financial results. Highlights include: • Sales of $967 million, up 22% 1 from prior year • 16 th consecutive quarter of growth-over-market • Net income of $34 million • Adjusted EBITDA of $99 million or 10.2% of sales • $1.5 billion in new

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Source: SEC EDGAR

accession 0001111335-23-000021

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