Versigent Reports Third Quarter 2026 Results

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)--Versigent PLC (NYSE: VGNT), a global leader in the design and manufacture of low‑ and high‑voltage electrical architectures, today reported results for its third quarter ended September 30, 2026.

Highlights

Third Quarter 2026

• Net sales of $2,450 million, up 7.2% year-over-year
  • Adjusted Net Sales Growth¹ of approximately 1% year-over-year
• Net income attributable to Versigent of $102 million
• Diluted earnings per share (“EPS”) of $1.41, Adjusted Diluted EPS¹ of $1.91
• Adjusted EBITDA¹ of $275 million, up 10.9% year-over-year
  • Adjusted EBITDA¹ margin of 11.2%, up 40 basis points year-over-year
• Net cash provided by operating activities of $225 million, up slightly year-over-year
• Free Cash Flow¹ of $170 million, compared to $179 million in Q3 2025, reflecting higher capital expenditures
• Board of Directors declared quarterly cash dividend of $0.13 per share

Full Year 2026 Guidance

• Raised midpoint and tightened net sales guidance range on higher commodity pass-throughs
• Tightened Adjusted EBITDA¹ guidance range
• Raised midpoint and upper end of Free Cash Flow¹ guidance, while tightening range

“Versigent's strong third-quarter performance reflects the resilience of our business model and disciplined execution amid significant launch activity, lower global automotive production and a volatile macroeconomic environment,” said Joseph Liotine, Chief Executive Officer, Versigent. “During the quarter, we successfully executed a high volume of complex launches across multiple manufacturing facilities, secured $2.1 billion of bookings and continued investing in our adjacent markets commercial and go-to-market capabilities. Together, these actions reinforce our competitive position and support long-term growth and value creation.”

“Our third-quarter results demonstrate the earnings and cash-generating power of the business, highlighted by continued growth over market, year-over-year net sales growth, double-digit Adjusted EBITDA¹ growth and margin expansion, as well as strong Free Cash Flow¹ generation,” said Doug Ostermann, Chief Financial Officer, Versigent. “Based on our year-to-date results and current macroeconomic outlook, we are raising the midpoint and tightening our full-year net sales and Free Cash Flow¹ guidance ranges, as well as tightening our Adjusted EBITDA¹ range. Consistent with our commitment to returning capital to shareholders and our disciplined approach to capital allocation, our Board of Directors has declared a quarterly dividend.”

Third Quarter 2026 Results

Versigent delivered third quarter 2026 net sales of $2,450 million, an increase of 7.2% compared to the third quarter of 2025. Adjusted Net Sales Growth¹, which excludes the impact of year-over-year commodity and foreign currency movements, was approximately 1% despite lower global automotive production.

Net income attributable to Versigent was $102 million, compared to $109 million in the prior-year quarter. The quarter included higher interest expense associated with the Company’s first quarter 2026 debt financing, partially offset by lower income tax expense. Net income margin was 4.2%, down 60 basis points year-over-year. Diluted EPS was $1.41 and Adjusted Diluted EPS¹ was $1.91 for the third quarter of 2026.

Adjusted EBITDA¹ increased 10.9% year-over-year to $275 million. Adjusted EBITDA¹ margin was 11.2%, up 40 basis points compared to the third quarter of 2025, reflecting continued strong operational execution amid a significant number of program launches during the quarter, together with favorable net pricing and foreign currency impacts, partially offset by higher commodity costs.

Interest expense was $36 million in the quarter, compared to de minimis for the third quarter of 2025, principally due to the Company’s senior notes and credit facility issued in the first quarter of 2026.

Income tax expense was $35 million, compared to $54 million in the prior-year period. The decrease was primarily driven by a lower effective tax rate in the third quarter of 2026, as the prior-year quarter included higher net discrete tax expenses, primarily related to valuation allowance adjustments.

Net cash provided by operating activities was $225 million, up slightly year-over-year. Capital expenditures increased to $55 million from $44 million in the prior-year quarter. Free Cash Flow¹ was $170 million, compared to $179 million in the prior-year quarter, primarily reflecting increased capital expenditures associated with higher launch activity in the second half of 2026. Free Cash Flow¹ for the third quarter of 2026 included $11 million of separation-related costs, compared to $7 million in the prior-year quarter.

Dividend

On November 3, 2026, the Company's Board of Directors declared a quarterly cash dividend of $0.13 per ordinary share, payable on December 17, 2026 to shareholders of record at the close of business on December 4, 2026.

The declaration and payment of future dividends are subject to the discretion of the Company’s Board of Directors and will depend on the Company’s financial condition, results of operations, cash requirements, and other factors deemed relevant by the Board of Directors.

Updated Full Year 2026 Guidance

Webcast and Conference Call

Versigent’s management team will host a webcast and conference call to discuss its third quarter 2026 financial results today, Wednesday, November 4, 2026, at 8:00 a.m. Eastern Time.

The webcast will be available at the following link: https://itl.ink/Q3EarningsWebcast.

To participate by telephone, dial +1-800-330-6710 (U.S.) or +1-213-279-1505 (International) at least 15 minutes prior to the start of the call and ask to be connected to the Versigent conference call. The conference ID number is 8915989.

The related presentation materials and webcast will be available under the Events and Presentations section of Versigent’s Investor Relations website at ir.versigent.com. A replay of the webcast will be available at the same website approximately two hours after the call concludes and for the three months thereafter.

About Versigent

Versigent is a global leader in the purposeful design and advanced manufacturing of low- and high-voltage electrical architectures. Building on a legacy of engineering excellence and trusted partnerships, Versigent delivers versatile, intelligent solutions engineered to unlock greater capabilities for our customers. Powering one in six passenger vehicles in production today, Versigent’s high performance signal, power, and data distribution systems are trusted by industry leaders across automotive, commercial vehicles, agriculture and energy storage. With engineering and manufacturing centers on four continents and operations in more than 25 countries, Versigent’s approximately 138,000 employees match global scale with regional responsiveness to deliver consistent quality and reliable performance connecting the world to faster, smarter and safer experiences. Visit www.versigent.com.

Use of Non‑GAAP Financial Measures

In addition to its reported results calculated in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), this press release also includes non-GAAP financial measures, including Adjusted Net Sales Growth, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Free Cash Flow. Management believes these non-GAAP financial measures, which are defined and discussed in greater detail and reconciled to the most directly comparable U.S. GAAP financial measures under the section “Reconciliations of Non-GAAP Financial Measures”, are useful to management, investors, and creditors in their analysis of the Company’s financial position, results of operations and liquidity. Management also uses these non-GAAP financial measures for internal planning and forecasting purposes.

Non-GAAP financial measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with U.S. GAAP and, as calculated, may not be comparable to other similarly titled measures of other companies. Refer to the section “Reconciliations of Non-GAAP Financial Measures” at the end of this press release for further details.

Forward‑Looking Statements

This press release contains forward-looking statements that reflect, when made, Versigent’s current views with respect to current events, certain investments and acquisitions, business plans and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to Versigent’s operations and business environment, which may cause the actual results of Versigent to be materially different from any future results, expressed or implied, by such forward-looking statements. All statements that address future operating, financial or business performance or Versigent’s strategies or expectations are forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “should,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: disruptions in the supply of raw materials and other supplies integral to our products; future significant public health crises and other global health crises and the measures taken in response thereto; a prolonged recession and/or a downturn in global automotive sales; the volatile global economic environment and geopolitical conditions, including conditions affecting the credit market and global inflationary pressures; our reliance on relationships with collaborative partners and other third parties for product development and such parties’ failure to perform; employee strikes and labor-related disruptions involving us or one or more of our customers affecting our operations; fluctuations in interest rates and foreign currency exchange rates; our failure to comply with the numerous laws and regulations to which we are subject; adverse developments affecting one or more of our suppliers; any adverse impact of legal proceedings and disputes in which we are involved; challenges to our historical and future tax positions by taxing authorities; an increase in our tax burden due to ongoing or future tax audits; our failure to attract and retain key salaried employees and management personnel; our failure to manage the transition to a standalone public company; and our failure to achieve some or all of the benefits expected from our recently completed spin-off. Additional factors are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Versigent’s filings with the Securities and Exchange Commission, including those set forth in the Company’s Information Statement furnished with the Company’s Registration Statement on Form 10-12B/A filed on March 6, 2026. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect Versigent. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. Versigent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.

VERSIGENT PLC
RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
(Unaudited)

In this press release the Company has provided information regarding certain non-GAAP financial measures, including Adjusted Net Sales Growth, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS and Free Cash Flow. Such non-GAAP financial measures are defined and discussed in greater detail and reconciled to the most directly comparable U.S. GAAP financial measure in the following schedules. Non-GAAP financial measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with U.S. GAAP and, as calculated, may not be comparable to other similarly titled measures of other companies.

Adjusted Net Sales Growth: Adjusted Net Sales Growth is presented as a supplemental measure of the Company’s financial performance which management believes is useful to investors in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding U.S. GAAP measure, provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s core operating performance and which may obscure underlying business results and trends. Our management utilizes Adjusted Net Sales Growth in its financial decision-making process, to evaluate performance of the Company and for internal reporting, planning and forecasting purposes. Adjusted Net Sales Growth is defined as the change in reported net sales relative to the comparable period, excluding the impact on net sales from foreign currency and commodity movements.

Adjusted EBITDA: Adjusted EBITDA is presented as a supplemental measure of the Company’s financial performance which management believes is useful to investors in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding U.S. GAAP measure, provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s core operating performance and which may obscure underlying business results and trends. Our management utilizes Adjusted EBITDA in its financial decision-making process, to evaluate performance of the Company and for internal reporting, planning and forecasting purposes. Adjusted EBITDA is defined as net income (loss) attributable to Versigent before depreciation and amortization (including asset impairments), interest expense, income tax expense (benefit), net (loss) income attributable to noncontrolling interest, other expense (income), net, equity income (loss), net of tax, restructuring, separation costs related to the Spin-Off, other acquisition and portfolio project costs (which includes costs incurred to integrate acquired businesses and to plan and execute product portfolio transformation actions, including business and product acquisitions and divestitures) and other special items. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of net sales.

Adjusted Net Income and Adjusted Diluted EPS: Adjusted Net Income and Adjusted Diluted EPS, which are non-GAAP financial measures, are presented as supplemental measures of the Company’s financial performance which management believes are useful to investors in assessing the Company’s ongoing financial performance that, when reconciled to the corresponding U.S. GAAP measure, provide improved comparability between periods through the exclusion of certain items that management believes are not indicative of the Company’s core operating performance and which may obscure underlying business results and trends. Management utilizes Adjusted Net Income and Adjusted Diluted EPS in its financial decision-making process, to evaluate performance of the Company and for internal reporting, planning and forecasting purposes. Adjusted Net Income represents net income (loss) attributable to Versigent before amortization, restructuring, separation costs related to the Spin-Off, other acquisition and portfolio project costs (which includes costs incurred to integrate acquired businesses and to plan and execute product portfolio transformation actions, including business and product acquisitions and divestitures) and other special items, including the tax impact thereon. Adjusted Diluted EPS is defined as Adjusted Net Income divided by the weighted average number of diluted shares outstanding for the period.

Free Cash Flow: Free Cash Flow is presented as a supplemental measure of the Company’s liquidity, which is consistent with the basis and manner in which management presents financial information for the purpose of making internal operating decisions, evaluating its liquidity and determining appropriate capital allocation strategies. Management believes this measure is useful to investors to understand how the Company’s core operating activities generate and use cash. Free Cash Flow is defined as net cash provided by (used in) operating activities less capital expenditures. The calculation of Free Cash Flow does not reflect cash used to service debt, pay dividends or repurchase shares and therefore, does not necessarily reflect funds available for investment or other discretionary uses.