VAN BUREN TOWNSHIP, Mich. (AP) — VAN BUREN TOWNSHIP, Mich. (AP) — Visteon Corp. (VC) on Thursday reported first-quarter net income of $42 million.
On a per-share basis, the Van Buren Township, Michigan-based company said it had profit of $1.50. Earnings, adjusted for restructuring costs and non-recurring costs, came to $1.61 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.
The auto parts supplier posted revenue of $933 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $986 million.
Visteon expects full-year revenue in the range of $4 billion to $4.2 billion.
