Visteon Corporation (NASDAQ:VC) Q3 2024 Earnings Conference Call October 24, 2024 9:00 AM ET
Company Participants
Ryan Wentling - VP of IR and Treasurer
Sachin Lawande - President and CEO
Jerome Rouquet - SVP and CFO
Conference Call Participants
Luke Junk - Baird
Joe Spak - UBS
Mark Delaney - Goldman Sachs
James Picariello - BNP Paribas
Edison Yu - Deutsche Bank
Shreyas Patil - Wolfe Research
Operator
Thank you for standing by. At this time, I'd like to welcome everyone to Visteon's Third Quarter 2024 Results. [Operator Instructions] Thank you.
I'd now like to turn the call over to Ryan Wentling, Vice President of Investor Relations and Treasurer. Please go ahead.
Ryan Wentling
Good morning. I'm Ryan Wentling, Vice President of Investor Relations and Treasurer. Welcome to our earnings call for the third quarter 2024. Please note, this call is being recorded and all lines have been placed on listen-only mode to prevent background noise.
Before we begin this morning's call, I'd like to remind you this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these statements. Please refer to the page entitled forward-looking information for additional details.
Presentation materials for today's call were posted on the Investors section of Visteon's website this morning. Please visit investors.visteon.com to download the material, if you have not already done so.
Joining us today are Sachin Lawande, President and Chief Executive Officer, and Jerome Rouquet, Senior Vice President and Chief Financial Officer. We have scheduled the call for one hour and we'll open the lines for your questions after Sachin's and Jerome's remarks. Please limit your questions to one question and one follow-up.
Thank you for joining us. Now I will turn the call over to Sachin.
Sachin Lawande
Thank you, Ryan. And good morning, everyone. Thank you for joining our third quarter 2024 earnings call.
Page 2 provides a summary of our third quarter performance. Visteon delivered strong results for the third quarter with sales outperforming customers' vehicle production and generating solid profitability and free cash flow.
Sales were just under $1 billion, driven by strong demand for our digital cockpit and electrification products. These product lines drove mid-single digit growth over market, which was partially muted by lower sales in China, mainly due to the loss of market share of our global OEM customers in that region.