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Investing.com — Visteon (NASDAQ: NASDAQ:VC) reported its earnings on Thursday, which beat estimates, causing its shares to jump 13.24%.
The company reported adjustable earnings per share of $1.69, crushing analysts’ predictions of 7 cents a share for the quarter. In addition, its fourth-quarter revenue was $786 million, smashing analyst estimates of $659.16 million for the quarter.
The improved sales performance for Visteon was driven by its recently launched products and favorable pricing.
“In 2021, the Visteon team continued to build the foundation for sustainable growth driven by the transformation of our product portfolio,” President and CEO Sachin Lawande said.
He continued, “In 2022, we anticipate we will grow sales, expand margins, and increase adjusted free cash flow generation.”
Visteon also launched 17 new products in the fourth quarter, bringing 43 new products to market for 2021.
Looking ahead, the company sees revenue between $3.15 billion and $3.35 billion in 2022. The consensus is $3.2 billion.
