Visteon (VC) Q1 FY2024 earnings: revenue $933 million, down 3.5% on the year

Visteon Corp. (VC) reported revenue of $933 million for Q1 FY2024, the quarter ended 31 March 2024, down 3.5% on the same quarter a year earlier. Net income was $48 million, up 41.2% on the year, and diluted earnings per share $1.50. The figures are the company's own, from the 10-Q it filed with the SEC on 24 April 2025.

Revenue$933 milliondown 3.5%

Net income$48 millionup 41.2%

Diluted EPS$1.50

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	933	990	n/a	n/a
Cost of revenue	814	860	n/a	n/a
Gross profit	119	130	n/a	n/a
Gross margin	12.8%	13.1%	n/a
Selling, general and administrative	52.0	51.0	n/a	n/a
Interest expense	4.0	4.0	n/a	n/a
Pre-tax income	63.0	77.0	n/a	n/a
Income tax	13.0	-296	n/a	n/a
Effective tax rate	20.6%	-384.4%	n/a
Net income	48.0	366	n/a	n/a
Net margin	5.1%	37.0%	n/a
Diluted EPS	$1.50	$12.98	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	69.0	98.0	n/a	n/a
Cash from investing	-37.0	-43.0	n/a	n/a
Cash from financing	-31.0	-37.0	n/a	n/a
Depreciation and amortisation	22.0	25.0	n/a	n/a
Share-based compensation	10.0	8.0	n/a	n/a
Buybacks	20.0	31.0	n/a	n/a
Diluted shares, weighted	28m	28m	n/a	n/a
Shares outstanding at period end	28m	28m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	1,049	1,038	n/a	n/a
Non-controlling interest	85.0	85.0	n/a	n/a
Debt	314	318	n/a	n/a
Operating lease liabilities	89.0	79.0	n/a	n/a
Other liabilities	1,202	1,207	n/a	n/a
Total liabilities and equity	2,739	2,727	n/a	n/a
Fixed assets	415	418	n/a	n/a
Intangible assets	43.0	46.0	n/a	n/a
Cash and equivalents	504	515	n/a	n/a
Receivables	652	666	n/a	n/a
Inventory	342	298	n/a	n/a
Other assets	783	784	n/a	n/a
Total assets	2,739	2,727	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,014	990	933	1,014	980	939	934	969	917	948	954	960
Cost of revenue	871	860	814	867	849	805	796	828	786	826	841	842
Gross profit	143	130	119	147	131	134	138	141	131	122	113	118
Gross margin	14%	13%	13%	14%	13%	14%	15%	15%	14%	13%	12%	12%
SG&A	52.0	51.0	52.0	49.0	51.0	55.0	47.0	48.0	53.0	54.0	54.0	46.0
Interest expense	4.0	4.0	4.0	4.0	4.0	3.0	3.0	4.0	3.0	3.0	3.0	2.0
Pre-tax income	92.0	77.0	63.0	100	51.0	84.0	95.0	97.0	81.0	65.0	49.0	76.0
Tax rate	23%	-384%	21%	13%	20%	-52%	27%	23%	111%	-20%	33%	34%
Net income	66.0	366	48.0	83.0	40.0	125	67.0	71.0	-11.0	74.0	31.0	49.0
Net margin	7%	37%	5%	8%	4%	13%	7%	7%	-1%	8%	3%	5%
Diluted EPS	$2.32	$12.98	$1.50	$2.54	$1.40	$4.48	$2.36	$2.36	$2.04	$2.67	$1.14	$1.80
Operating cash flow	127	98.0	69.0	57.0	98.0	203	70.0	95.0	127	118	6.0	37.0
Buybacks	46.0	31.0	20.0	20.0	0.0	23.0	7.0	0.0	0.0	50.0	30.0	6.0
Dividends paid	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	8.0	7.0	10.0	10.0
Shares outstanding	28m	28m	28m	27m	27m	27m	27m	27m	27m	27m	27m	27m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 24 April 2025, accession 0001111335-25-000059: the filing on EDGAR. All of Visteon Corp.'s filings: EDGAR company page.

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