Visteon reports first-quarter 2026 results with sales of $954 million and reaffirms full-year guidance

Visteon Corporation reported first-quarter financial results, including net sales of $954 million and net income attributable to Visteon of $31 million. The company also posted adjusted EBITDA of $104 million and ended the quarter with net cash of $385 million.

First-quarter performance

Visteon reported net sales of $954 million, up from $934 million in the prior year, representing 2% year-over-year growth. The company said industry and customer vehicle production were down 3% and 4%, respectively, but it delivered growth-over-market of 3%, supported by the ramp-up of recent product launches and customer demand.

Gross margin in the first quarter was $113 million. Net income attributable to Visteon was $31 million, or $1.14 per diluted share. Adjusted EBITDA was $104 million, reflecting operational performance amid a dynamic supply chain environment. Visteon said margin performance was impacted by elevated semiconductor and other supply chain-related costs, partially offset by commercial recoveries and other operational cost reductions.

Cash flow and capital allocation

For the first three months of 2026, cash from operations was $6 million. Capital expenditures were $36 million, and adjusted free cash flow was an outflow of $23 million.

At quarter end, Visteon reported cash of $682 million and debt of $297 million. During the quarter, the company repurchased $30 million of shares and paid $10 million in dividends. Visteon said its net cash position of $385 million provides flexibility to invest in the business while supporting future capital allocation priorities.

New business wins and product launches

Visteon secured $1.0 billion in new business during the first quarter, led by clusters and cockpit domain controllers. The company also reported continued traction in its SmartCore™ HPC portfolio, including a third customer win in China for AI-capable smart cockpit systems.

Additional SmartCore™ wins included a cockpit domain controller program for vehicles in India and other emerging markets, adding a new customer relationship in a growth market. Visteon also cited digital cluster awards across passenger vehicle and commercial vehicle platforms, along with a follow-on two-wheeler cluster award in Asia.

The company launched 20 new products in the first quarter across 11 customers. Highlights included its first launch with Lexus, featuring a driver display on the fully redesigned Lexus ES. Other launches included a digital cluster on the all-new Infiniti QX65 crossover in North America and a display cluster on JMC-Ford’s electrified Bronco in China. In India, Visteon cited launch activity across programs including Hyundai Verna, Tata Tiago, and Renault Duster.

Management commentary

“Our first quarter results reflect strong continued execution across our strategic priorities in a dynamic supply chain environment,” said President and CEO Sachin Lawande. “We are very pleased with overall performance, especially in support of our customers' high-profile vehicle launches, particularly with Lexus and Infiniti.”

Reaffirmed full-year 2026 guidance

Visteon reaffirmed its full-year 2026 guidance, expecting sales in the range of $3.625 billion to $3.825 billion. The company also expects adjusted EBITDA of $455 million to $495 million and adjusted free cash flow of $170 million to $210 million.

Vist eon said the guidance reflects a strong start to the year, continued customer demand resilience, and the benefit of upcoming product launches expected to offset a softer industry production outlook, particularly in the second half. The company said its guidance assumes memory supply will not impact customer production volumes and that it expects margin improvement over the remainder of the year supported by customer recoveries and ongoing cost actions.

Conference call

Visteon will host a conference call on Thursday, April 23, at 9 a.m. ET to discuss the quarter’s results. The call is available via a live audio webcast. Dial-in numbers provided were: U.S./Canada 1-888-330-2508 and Outside U.S./Canada 1-240-789-2735, with Conference ID 8897485.

Notes on non-GAAP measures and forward-looking statements

Visteon said adjusted EBITDA, adjusted net income, adjusted EPS, free cash flow, and adjusted free cash flow may not be comparable to similarly titled measures used by other companies due to differences in calculation methods.

The company also included standard forward-looking statement language, noting that results are subject to risks and uncertainties that could cause actual outcomes to differ materially from expectations. Visteon stated that the financial results presented are preliminary and unaudited, and that final results will be included in its Form 10-Q for the fiscal quarter ended March 31, 2026.