Automotive supplier Visteon Corporation (VC) Tuesday reported a profit of $366 million or $12.98 per share for the fourth quarter, significantly higher than $34 million or $1.18 per share in the same quarter a year ago, primary due to a benefit from income taxes of $296 million.
Excluding one-time items, earnings were $367 million or $13.01 per share
Sales for the quarter declined to $990 million from $1.064 billion last year.
Analysts on average, polled by Thomson-Reuters expected the company to report earnings of $2.09 per share on revenue of $1.05 billion. Analysts' estimates typically exclude special items.
For the full-year 2024, Visteon expects sales in the range of $4.0 billion to $4.2 billion. The consensus estimate stands at $4.3 billion.
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