Mexican Media Brands
One-Time Gains Hike Visteon’s Profit
Visteon Corp. says special items boosted its second-quarter net income 73% to $45 million.
#economics
Share
Visteon Corp. says special items boosted its second-quarter net income 73% to $45 million.
Revenue was flat at $774 million, as a 38% gain in China offset the effects of unfavorable exchange rates and the sale of climate control operations in South Africa and South America.
The company affirms its full-year outlook for sales between $3.1 billion and $3.2 billion. Visteon anticipates an adjusted EBITDA of $355 million-$370 million compared with $346 million last year.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.