Visteon reports record EBITDA, increased revenue, but net loss in Q2

Loss in net income recorded for the second quarter is expected to be reversed.

Automotive electronics supplier Visteon has reported second-quarter results showing an 11% increase in revenue, with sales of USD1.78 billion (excluding discontinued operations), and quarterly adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of USD193 million. However, expenses related to selling most of its interiors businesses resulted in a net loss of USD155 million in the second quarter and USD136 million during the first half. In May, Visteon sold its interiors business to Cerberus. In a company statement, Visteon reported continued progress under its shareholder value-creation plan, which included selling the interiors business but also acquiring Johnson Controls' electronics business and the acquisition of the thermal and emissions product line of Cooper-Standard Automotive.