Visteon Goes Negative
Visteon (NYS: VC) reported earnings on May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Visteon missed estimates on revenue but crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank to a loss.
Gross margin improved, operating margin was steady, and net margin shrank.
Visteon booked revenue of $1.72 billion. The two analysts polled by S&P Capital IQ wanted to see revenue of $1.77 billion on the same basis. GAAP reported sales were 7.2% lower than the prior-year quarter's $1.85 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.96. The three earnings estimates compiled by S&P Capital IQ predicted $0.65 per share. GAAP EPS were -$0.56 for Q1, versus $0.75 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 7.8%, 10 basis points better than the prior-year quarter. Operating margin was 2.5%, about the same as the prior-year quarter. Net margin was -1.7%, 380 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.79 billion. On the bottom line, the average EPS estimate is $0.90.
Next year's average estimate for revenue is $7.17 billion. The average EPS estimate is $3.35.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 50 members rating the stock outperform and four members rating it underperform. Among 28 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Visteon a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Visteon is hold, with an average price target of $62.83.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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