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Stock impact report

Visteon Announces First Quarter 2024 Financial Results [Yahoo! Finance]

Visteon Corporation (VC) 
Last visteon corporation earnings: 4/30 06:55 am Check Earnings Report
US:NYSE Investor Relations: visteon.com/investors
Company Research Source: Yahoo! Finance
Net sales of $933 million with a return to positive growth-over-market Net income of $42 million Adjusted EBITDA of $102 million or of sales Operating cash flow of $69 million and adjusted free cash flow of $34 million Launched 26 new products across 14 OEMs Won $1.4 billion in new business, including over $400 million of displays wins Net cash of $175 million at quarter end Visteon reported net sales of $933 million compared to $967 million in the first quarter of the prior year. The decline in net sales was primarily due to lower recoveries resulting from improved semiconductor supply in the first quarter of 2024 and 1% lower customer vehicle production. Visteon's sales outperformed customer vehicle production volumes by 2% , driven by the ramp up of recent product launches and continued growth of our electrification products. Gross margin in the first quarter was $119 million, and net income attributable to Visteon was $42 million, or $1.50 per diluted share. Adjus Show less Read more
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