Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Visteon Shares Gain On Better-Than-Expected Q2 Earnings

Visteon Corp (NASDAQ:VC) reported second-quarter FY22 sales growth of 42% year-on-year, to $848 million, beating the consensus of $719.49 million. The…
byShivani Kumaresan
July 28, 2022
1 minute read
Total
0
Shares
0
0
0
0
0
0
  • Visteon Corp (NASDAQ:VC) reported second-quarter FY22 sales growth of 42% year-on-year, to $848 million, beating the consensus of $719.49 million.
  • The company attributed the revenue growth to new product launches and positive pricing reflecting incremental costs recoveries related to semiconductor shortages.
  • The gross margin for the quarter expanded 300 basis points to 8.7%.
  • The company held $325 million in cash and equivalents as of June 30, 2022.
  • Adjusted EBITDA of $79 million increased 163% Y/Y.
  • Adjusted EPS of $1.34 beat the analyst consensus of $0.47.
  • Outlook: Visteon maintained its full-year 2022 guidance. It sees FY22 sales of $3.15 billion – $3.35 billion, against the consensus of $3.22 billion.
  • The company expects FY22 adjusted EBITDA of $295 million – $335 million.
  • Price Action: VC shares are trading higher by 4.42% at $123.51 on the last check Thursday.
 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Investor Optimism Improves Following Tech Earnings, Jobs Data; S&P 500 Gains For 4th Week

By Avi Kapoor
February 5, 4:19 AM
The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the "Greed" zone on Friday. U.S. stocks closed higher on Friday, with the S&P 500 index hitting a new record high during the session. For the week, the S&P 500 gained 1.4%, recording gains for the fourth week in a row.

AAPL