M&A - VISTEON CORP

Form Type: 10-Q

Filing Date: 2025-04-24

Corporate Action: Acquisition

Type: Update

Accession Number: 000111133525000059

Filing Summary: On April 17, 2025, Visteon Corporation reported its financial results for the first quarter ended March 31, 2025. The company's net sales were $934 million, slightly increasing from $933 million in the same period last year. Net income attributable to Visteon Corporation was $65 million, up from $42 million year-over-year. The report highlighted an acquisition completed on August 29, 2024, where Visteon acquired a German design and R&D services company for $54 million in cash, which enhances its electronics offerings. The acquisition strengthened Visteon's position in the market with recognized goodwill of $34 million and fair value measurements categorized within level 3 of the fair value hierarchy. Additionally, the company recorded comprehensive income of $84 million, up from $28 million in the previous year. The balance sheet as of March 31, 2025, reflects total assets of $2.997 billion and a slight increase in cash and equivalents. Overall, Visteon has demonstrated stable growth, with a notable improvement in earnings per share, which rose to $2.39 from $1.52.