Visteon shares were up almost 7% Tuesday after the maker of automotive electronic components reaffirmed its FY16 sales outlook in line with views and issued in line guidance on FY17 sales.
The company continues to expect FY16 revenues of $3.1 billion, about in line with the $3.11 billion consensus compiled by Capital IQ. For FY17, Visteon expects revenues of $3.1 billion to $3.2 billion, straddling the $3.18 billion average estimate.
FY16 adjusted EBITDA has been raised to between $340 million and $345 million from $325 million to $335 million, and FY17 adjusted EBITDA is seen at $355 million to $370 million.
Finally, the company’s FY16 adjusted free cash flow guidance was increased to between $155 million and $160 million from prior guidance of $125 million to $150 million, and is projected at $165 million to $180 million in 2017.