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Visteon Corp. (NYSE:VC) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Visteon Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 26% to $0.74 in the quarter versus EPS of $1.00 in the year-earlier quarter.
Revenue: Decreased 1.94% to $1.82 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Visteon Corp. reported adjusted EPS income of $0.74 per share. By that measure, the company missed the mean analyst estimate of $0.88. It beat the average revenue estimate of $1.72 billion.
Quoting Management: “We delivered a strong finish to a solid year that was highlighted by operational improvements, an impressive level of new business wins, and completion of the majority of the Halla-Visteon climate consolidation that has long been desired by our customers,” said Tim Leuliette, president and CEO. “Visteon is a stronger company than a year ago – with a global, low-cost manufacturing footprint; a solid cash position, a conservative debt profile; and a strong business backlog. We continue to drive down administrative costs, improve our operational structure and execute all facets of our strategy to maximize value for customers and shareholders.”
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