Visteon Corp. (VC) Posts Q2 Loss of $3.35/Share Before Items

Visteon Corp. (NYSE: VC) reported Q2 EPS of ($3.35), which includes items and does not compare to the analyst estimate of $0.85. Revenue for the quarter came in at $2.04 billion versus the consensus estimate of $1.97 billion.

Adjusted EBITDA, a non-GAAP financial measure as defined below, was $193 million, compared with $163 million in the same period last year.

Visteon Corp. sees FY2014 EPS of $2.98-$3.62. Visteon Corp. sees FY2014 revenue of $7.6 billion, versus the consensus of $8.11 billion. The company sees adjusted EBITDA including discontinued operations in the range of $700 million to $730 million, adjusted free cash flow in the range of $125 million to $165 million.

Visteon Corp. sees FY2015 revenue of $8.5-8.7 billion, versus the consensus of $8.6 billion. The company sees adjusted EBITDA in the range of $780 million to $820 million.

"We achieved record quarterly adjusted EBITDA on the underlying strength of our core thermal energy management and cockpit electronics businesses," said Tim Leuliette, president and CEO. "Our performance was buoyed by some positive customer agreements, and we also completed several actions under our value creation strategy – most notably the acquisition of Johnson Controls' electronics business. With our two profitable, technology-focused core businesses, Visteon is nicely positioned for growth and for continuing to deliver exceptional value to customers and shareholders."

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

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