Visteon (VC) Tops Q2 EPS by 14c, Beats on Revenues; Reaffirms FY17 EPS Outlook

Visteon (NYSE: VC) reported Q2 EPS of $1.41, $0.14 better than the analyst estimate of $1.27. Revenue for the quarter came in at $774 million versus the consensus estimate of $769.91 million.

Full-Year 2017 Outlook

Visteon affirmed its full-year 2017 guidance for its key financial metrics. The company projects 2017 sales in the range of $3.1 billion to $3.2 billion. Adjusted EBITDA is projected in the range of $355 million to $370 million. Adjusted free cash flow, as defined below, for the Electronics Product Group is projected in the range of $165 million to $180 million.

GUIDANCE:

Visteon sees FY2017 revenue of $3.1-3.2 billion, versus the consensus of $3.18 billion.

Delivered strong financial performance

• Sales of $774 million
• Net income of $45 million
• Adjusted EBITDA of $84 million
• Increased China domestic sales 38 percent year-over-year, excluding impact of currency
• Awarded $3.1 billion in new business year-to-date
• Two additional SmartCore™ awards year-to-date
• Record $17.3 billion order backlog

Executed $160 million of share repurchases year-to-date

For earnings history and earnings-related data on Visteon (VC) click here.

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