Visteon: 2Q Earnings Snapshot

Visteon: 2Q Earnings Snapshot

Associated Press
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VAN BUREN TOWNSHIP, Mich. (AP) _ Visteon Corp. (VC) on Thursday reported second-quarter net income of $35 million.

On a per-share basis, the Van Buren Township, Michigan-based company said it had profit of $1.17. Earnings, adjusted for restructuring costs and to account for discontinued operations, were $1.37 per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The auto parts supplier posted revenue of $758 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $795.5 million.

Visteon expects full-year revenue in the range of $3.1 billion to $3.15 billion.

Visteon shares have declined slightly since the beginning of the year. The stock has risen 14 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VC at https://www.zacks.com/ap/VC

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