Auto parts maker
bumped up its second-quarter and full-year guidance, saying strong operating performance and a healthy industry will produce better-than-expected results.
The company expects to earn $70 million to $75 million in the quarter excluding charges, up from earlier guidance of $60 million to $70 million and ahead of the consensus estimate of $65 million. For the full year, Visteon expects pro forma net income of $50 million to $80 million, compared to the previous forecast of $25 million to $75 million and the consensus of $69 million.
Including charges, the company said it will lose about $259 million to $289 million for the year.
Visteon also updated its cash flow guidance, saying it will generate operating cash flow of $150 million to $250 million in the second quarter and should see positive cash flow for the entire year.
Shares of Visteon closed at $14.70 Tuesday before the updated guidance.