Visteon Corporation (VC) is a public company. Visteon is a global technology leader advancing software-defined mobility and AI-powered innovation. From digital cockpit and EV technologies to Edge AI platforms for enterprise applications, Visteon enables intelligent, connected experiences across automotive and industrial environments. Founded in 2000. It has 10,775 employees. IPO 2000.

Transcript

Ryan Ghazaeri — VP of Investor Relations and Corporate Strategy

Good morning. I'm Ryan Ghazaeri, Vice President of Investor Relations and Corporate Strategy. Welcome to our earnings call for the second quarter of 2026. Before we begin this morning's call, I'd like to remind you that today's presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and are subject to various risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed. Please refer to the page titled "Forward-Looking Statements" in our earnings material for more detail. Presentation materials for today's call were posted this morning on the Investors section of Visteon's website. 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 will open the lines for questions after Sachin and Jerome's prepared remarks. Please limit your participation to one question and one follow-up. Thank you again for joining us. I'll turn over the call to Sachin.

Sachin Lawande — President and CEO

Thank you, Ryan. Good morning, everyone. Visteon delivered another quarter of solid execution despite a challenging industry production environment. Customer vehicle production declined approximately 5% during the quarter, yet our sales remained essentially flat year-over-year, resulting in approximately 4 percentage points of market outperformance. This performance was driven by the continued ramp of recent launches, particularly in Europe and India, underscoring the benefits of our diversified customer base and expanding product portfolio. Adjusted EBITDA was $116 million, representing a 12.1% margin, while adjusted free cash flow remained positive. Our balance sheet continues to be healthy, ending the quarter with $650 million in cash, providing