Visteon Corp. (VC): 2Q26 First Take

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Visteon Corp. (VC): 2Q26 First Take

Equity Research

23 July 2026 | 8:17AM EDT

Synopsis Mark Delaney, CFA

+1(212)357-0535 |

Visteon reported 2Q26 sales above both GS and the Street, but adjusted EBITDA mark.delaney@gs.com

Goldman Sachs & Co. LLC

was modestly below. The company reiterated the view provided at its June

Will Bryant

investor day that 2026 EBITDA is tracking toward the midpoint of the full year +1(212)934-4705 | will.bryant@gs.com

guidance. Goldman Sachs & Co. LLC

Aman Gupta

Visteon also announced a $200 mn accelerated share repurchase agreement +1(212)357-1549aman.s.gupta@gs.com|

under its current authorization, which it expects to complete in 4Q. Goldman Sachs & Co. LLC

Ayush Ghose

We believe the ability for Visteon to reach its full year guidance (including +1(212)902-7257ayush.ghose@gs.com|

executing on cost pass throughs and seeing improved EBITDA as the year Goldman Sachs & Co. LLC

progresses), ramping additional programs, and the design win/competitive

environment will be in focus during the earnings call.

Results

Visteon (VC; Buy) reported 2Q26 revenue of $960 mn (up 1% qoq and down 1% yoy),

compared to GS at $952 mn and the Street at $956 mn.

Per the release, the company reported growth over its customer weighted

production of 4%, driven by the ramp up of recent product launches.

Non-GAAP EBITDA was $116 mn (12.1% of sales) compared to GS $120 mn (12.6%

of sales) and the Street at $121 mn (12.7% of sales).

Visteon reported Non-GAAP EPS of $1.91 vs. GS at $2.15 and the Street at $2.21.

Adjusted FCF was $20 mn and the company used $10 mn for dividends and $6 mn

for buybacks in the quarter.

2Q26 new business wins were ~$2.0 bn, bringing YTD new business wins to ~$3.0 bn

(compared to ~$3.9 bn 2Q25 YTD). Visteon commented that they are on track to