Visteon reports record FY 2023 sales $3.95B, adj EBITDA $434M; CEO term extended to 2030

VISTEON CORP

2023-FY EPS reported $17.05 revenue$3,954,000,000

Q4 net sales $990M (down 7% YoY), base sales up 1%; net income $366M includes $313M non-cash U.S. tax benefit.
Full-year record net sales $3,954M (+5% YoY, base sales +12%); record adj EBITDA $434M (11.0% margin, +170bps).
2024 guidance: sales $4.0-4.2B, adj EBITDA $470-500M, adj FCF $155-185M.
Won $7.2B new business in 2023; repurchased $106M of shares under $300M authorization.
CEO Sachin Lawande's employment extended to Sept 2030; base salary raised to $1.15M eff Apr 1, 2024.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VISTEON CORP updated its fourth quarter and full-year of 2023 guidance (reaffirmed).

Period: fourth quarter and full-year of 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On February 20, 2024, the registrant issued a press release regarding its financial results for the fourth quarter and full-year of 2023.

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VISTEON CORP filing history →

Source: SEC EDGAR

accession 0001111335-24-000017

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