Visteon: Q2 Earnings Snapshot
VAN BUREN TOWNSHIP, Mich. (AP) _ Visteon Corp. (VC) on Thursday reported a loss of $11 million in its second quarter.
On a per-share basis, the Van Buren Township, Michigan-based company said it had a loss of 39 cents. Losses, adjusted for non-recurring costs and restructuring costs, were 32 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The auto parts supplier posted revenue of $610 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $642.4 million.
Visteon shares have declined 11% since the beginning of the year. The stock has climbed 50% in the last 12 months.