Mexican Media Brands
Visteon’s Income Rises as Sales Slip
Visteon Corp. reports its net income in July-September climbed to $28 million from $5 million a year earlier, even though revenue dipped 5% to $770 million.
#economics
Share
Visteon Corp. reports its net income in July-September climbed to $28 million from $5 million a year earlier, even though revenue dipped 5% to $770 million.
Adjusted earnings before interest, taxes, depreciation and amortization climbed to $75 million from $65 million in the same period in 2015.
Third-quarter sales by Visteon’s electronic businesses declined 3% to $749 million. Visteon says the unit generates 41% of its business in Asia, 29% in Europe, 28% in North America and 2% in South America. Revenue from the company’s other operations fell to $21 million from $37 million, mainly because of the sale an automotive interiors operation in Germany last year.
Visteon expects its electronics unit to post full-year sales of $3.1 billion and an adjusted EBITDA between $325 million and $335 million.
RELATED CONTENT
-
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.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
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.