Welcome to our dedicated page for Visteon news (Ticker: VC), a resource for investors and traders seeking the latest updates and insights on Visteon stock.
Visteon Corporation reports developments in automotive cockpit electronics, software-defined vehicle platforms, and financial performance. The company supplies global original equipment manufacturers with digital instrument clusters, displays, infotainment systems, telematics, SmartCore™ high-performance compute, AI-enhanced software, and integrated EV architecture solutions.
Company news commonly covers quarterly and annual results, new business wins, product launches, shareholder returns, and technology collaborations tied to AI navigation, edge-to-cloud vehicle software, and centralized cockpit computing across passenger vehicles, commercial transportation, and two-wheelers.
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Visteon Corporation (NASDAQ: VC) reported strong first quarter results, with sales of $967 million, representing a 22% year-over-year increase. This marks the 16th consecutive quarter of growth exceeding market performance. The company achieved a net income of $34 million and an adjusted EBITDA of $99 million, or 10.2% of sales. Notable wins include $1.5 billion in new business, boosting prospects in electrification and digital cockpit technologies. Visteon launched products in 34 vehicle models, including significant collaborations with General Motors and an Indian OEM. The company ended the quarter with $135 million in net cash and expects full-year sales between $3.95 to $4.15 billion. Cash flow from operations was recorded at ($19 million), while capital expenditures reached $21 million.
Visteon Corporation has appointed Ryan Wentling as Vice President of Investor Relations and Treasurer, effective immediately, succeeding Kris Doyle. Wentling's responsibilities include managing investor relations, treasury, strategic planning, and corporate development. He previously served at Constellium and has equity research experience at Cowen and auditing experience at Deloitte. Kris Doyle will now lead the global finance function as Vice President of Operations Finance and FP&A. Visteon is dedicated to enhancing the mobility industry with innovative solutions and reported approximately $3.76 billion in annual sales with $6 billion of new business in 2022.
Visteon Corporation (Nasdaq: VC) will announce its first quarter 2023 financial results on April 27, before the market opens. The company plans to hold a conference call at 9 a.m. ET to discuss these results, which will also be accessible to the public via a live audio webcast. The U.S./Canada toll-free dial-in number is 1-888-330-2508, while international participants can call 1-240-789-2735 with the passcode 8897485. Following the call, a replay will be available until May 11. Visteon, headquartered in Van Buren Township, Michigan, achieved approximately $3.76 billion in annual sales and secured $6 billion in new business in 2022. The company is focused on enhancing the driving experience through innovative digital, electric, and autonomous solutions.
Visteon Corporation (Nasdaq: VC) announced a $300 million share repurchase program, effective until December 31, 2026. Funding will come from excess cash and future cash flow. CEO Sachin Lawande emphasized this initiative highlights the board's confidence in Visteon’s strategic growth plan, focusing on digital, software-defined, and electric automotive solutions. Repurchases will occur through open market or privately negotiated transactions, dependent on market conditions and other factors. In 2022, Visteon reported $3.76 billion in sales and secured $6 billion in new business.