Visteon Earnings: Here’s Why the Stock is Up Now
Visteon (NYSE:VC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.76%.
Visteon Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 61.45% to $1.34 in the quarter versus EPS of $0.83 in the year-earlier quarter.
Revenue: Rose 8.1% to $1.86 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Visteon reported adjusted EPS income of $1.34 per share. By that measure, the company beat the mean analyst estimate of $1.08. It beat the average revenue estimate of $1.74 billion.
Quoting Management: “We are pleased with our first-quarter performance, which represents a significant year-over-year improvement and validates that our strategic plan to deliver value for customers and shareholders continues to gain momentum,” said Tim Leuliette, president and CEO. “The benefits of our value-creating strategy are beginning to be recognized – in the recent all-time high share trading price of Halla Visteon Climate Control, for example. We continue to aggressively move forward with our plan and are committed to having our progress recognized appropriately in Visteon’s share trading price.”
Key Stats (on next page)…