BorgWarner: 4Q Earnings Snapshot

AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Thursday reported fourth-quarter earnings of $220 million.

On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of $1.06. Earnings, adjusted for one-time gains and costs, came to $1.17 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The auto parts supplier posted revenue of $2.56 billion in the period, which met Street forecasts.

For the year, the company reported profit of $746 million, or $3.61 per share. Revenue was reported as $10.17 billion.

BorgWarner expects full-year earnings in the range of $3.85 to $4.15 per share, with revenue in the range of $9.75 billion to $10.07 billion.

BorgWarner shares have dropped 20% since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 5%. The stock has fallen 14% in the last 12 months.

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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

Categories: Business News