VC - Visteon GAAP EPS of $1.18 misses by $0.05 revenue of $967M beats by $25.7M
2023-04-27 07:10:04 ET
- Visteon press release ( NASDAQ: VC ): Q1 GAAP EPS of $1.18 misses by $0.05 .
- Revenue of $967M (+18.2% Y/Y) beats by $25.7M .
- Net income of $34 million
- Adjusted EBITDA of $99 million or 10.2% of sales
- $1.5 billion in new business wins
- $135 million in net cash at quarter end
- Gross margin in the first quarter was $110 million, and net income attributable to Visteon was $34 million. Adjusted EBITDA, a non-GAAP measure as defined below, was $99 million for the first quarter or 10.2% of sales, an increase of $28 million compared to the prior year.
- For the first three months, cash used by operations was $19 million and capital expenditures were $21 million.
- Adjusted free cash flow, a non-GAAP financial measure as defined below, for the first three months of 2023 was a use of cash of $37 million.
- The company ended the first quarter with cash of $487 million and debt of $352 million, representing a net cash position of $135 million.
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Visteon GAAP EPS of $1.18 misses by $0.05, revenue of $967M beats by $25.7M