Visteon Corp (NYSE:VC) reported earnings on May 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Visteon Corp (NYSE:VC) beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share expanded significantly. GAAP earnings per share grew.
Margins grew across the board.
Revenue details
Visteon Corp (NYSE:VC) notched revenue of $1.86 billion. The three analysts polled by S&P Capital IQ wanted to see a top line of $1.74 billion on the same basis. GAAP reported sales were 8.1% higher than the prior-year quarter’s $1.72 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $2.02. The four earnings estimates compiled by S&P Capital IQ predicted $1.07 per share. Non-GAAP EPS of $2.02 for Q1 were 110% higher than the prior-year quarter’s $0.96 per share. (The prior-year quarter included $0.06 per share in earnings from discontinued operations.) GAAP EPS were $1.33 for Q1 compared to -$0.56 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 8.3%, 50 basis points better than the prior-year quarter. Operating margin was 3.7%, 120 basis points better than the prior-year quarter. Net margin was 3.7%, 540 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Looking ahead
Next quarter’s average estimate for revenue is $1.81 billion. On the bottom line, the average EPS estimate is $0.81.
Next year’s average estimate for revenue is $7.36 billion. The average EPS estimate is $4.03.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 48 members out of 52 rating the stock outperform, and four members rating it underperform. Among 24 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 23 give Visteon Corp (NYSE:VC) a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Visteon Corp (NYSE:VC) is buy, with an average price target of $70.20.
The article Visteon Beats on the Top Line originally appeared on Fool.com is written by Seth Jayson.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
