Visteon reported net sales of $818 million, a year-over-year increase of 11% excluding the impact of currency.
Total industry production decreased 4% while vehicle production at top customers decreased 11% in the same period, reflecting supply chain constraints and the worldwide semiconductor shortage.
Despite these constraints, the company’s sales performance was 22% growth over market compared to customers’ production volume.
Gross margin in the first quarter was $76 million, and net income was $22 million or $0.77 per diluted share.
Adjusted EBITDA was $71 million for the first quarter or 8.7% of sales, an increase of $7 million.
The company won $950 million in new business in the first quarter.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataVisteon is maintaining full-year 2022 guidance and anticipates sales in the range of $3.150 – $3.350 billion plus adjusted EBITDA in the range of $295 – $335 million.