BorgWarner: 2Q Earnings Snapshot
AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Thursday reported second-quarter earnings of $172 million.
The Auburn Hills, Michigan-based company said it had profit of 83 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1 per share.
The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of $1 per share.
The auto parts supplier posted revenue of $2.55 billion in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $2.53 billion.
For the current quarter ending in October, BorgWarner expects its per-share earnings to range from 83 cents to 90 cents.
The company expects full-year earnings in the range of $3.75 to $4 per share, with revenue ranging from $9.94 billion to $10.18 billion.
BorgWarner shares have risen 22% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has fallen slightly more than 4% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BWA at https://www.zacks.com/ap/BWA