Banner
Falorni Tech Glass Melting Technology
Filtraglass

Visteon raises outlook

On 26 June US auto parts maker Visteon Corp. raised its earnings outlook for the second quarter and all of 2002, citing a stronger than expected operating performance and healthier industry environmen…

On 26 June US auto parts maker Visteon Corp. raised its earnings outlook for the second quarter and all of 2002, citing a stronger than expected operating performance and healthier industry environment. Visteon, which ranks as the world“s third-largest parts supplier, said it expects to post a full-year net loss of US$ 259 million to US$ 289 million, including special charges for several restructuring moves taken in the first quarter. The company said its full-year earnings before charges should range from US$ 50 million to US$ 80 million, up from its previous estimate of US$ 25 million to US$ 75 million. For the second quarter, the former parts arm of Ford Motor Co. said it sees income of US$ 70 million to US$ 75 million, up from its earlier forecast of US$ 60 million to US$ 70 million. Visteon said it expects to generate positive operating cash flow for the full year, including US$ 150 million to US$ 250 million in the second quarter, excluding cash paid related to restructuring. The company said the estimates assume Ford North American production of 4 million to 4.1 million vehicles this year.

Sign up for free to the glassOnline.com daily newsletter

Subscribe now to our daily newsletter for full coverage of everything you need to know about the world glass industry!

We don't send spam! Read our Privacy Policy for more information.

Share this article
Related news