Visteon Lowers FY24 Sales Outlook To $3.85B–$3.95B Vs. $4.04BB Est (Prior View: $4B-$4.2B)
Portfolio Pulse from Benzinga Newsdesk
Visteon has lowered its FY24 sales outlook to $3.85B–$3.95B from the previous estimate of $4B-$4.2B, citing reduced customer vehicle production and market dynamics in China. Adjusted EBITDA is expected to be $455–$475 million, with adjusted free cash flow between $155–$185 million.
July 25, 2024 | 11:00 am
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Visteon has revised its FY24 sales outlook downward to $3.85B–$3.95B from the previous estimate of $4B-$4.2B, due to reduced customer vehicle production and market dynamics in China. Adjusted EBITDA is expected to be $455–$475 million, with adjusted free cash flow between $155–$185 million.
The downward revision in sales outlook and adjusted EBITDA indicates potential challenges in Visteon's business environment, particularly due to reduced vehicle production and market dynamics in China. This is likely to negatively impact investor sentiment and the stock price in the short term.
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