Visteon Adds 10% As Q4 Results Above Street Estimates

(RTTNews) - Shares of automotive electronics supplier, Visteon Corporation (VC) are climbing more than 10% Thursday morning after reporting better-than-expected fourth quarter results.

Visteon reported net income of $31 million or $1.09 per share, higher than $18 million or $1.52 per share in the same quarter a year ago.

Excluding one-time items, Visteon posted earnings of $1.69 per share, beating the average estimate of analysts polled by Thomson Reuters of $0.02 per share.

Net sales for the quarter were $786 million compared with $787 million last year. The consensus estimate stood at $661.89 million.

Looking forward, Visteon anticipates revenue to be in the range of $3.15 billion-$3.35 billion in 2022. Analysts' expectation stands at $3.2 billion.

Visteon stock is at $116.42. It has been trading in the range of $91.59-$139.79 in the past 52 weeks.