BorgWarner: 4Q Earnings Snapshot
AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Thursday reported fourth-quarter earnings of $358 million.
The Auburn Hills, Michigan-based company said it had net income of $1.52 per share. Earnings, adjusted for non-recurring gains, were $1.18 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The auto parts supplier posted revenue of $3.93 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $3.62 billion.
For the year, the company reported profit of $500 million, or $2.34 per share. Revenue was reported as $10.16 billion.
BorgWarner expects full-year earnings in the range of $3.85 to $4.25 per share, with revenue in the range of $14.7 billion to $15.3 billion.
BorgWarner shares have climbed 13% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 4%. The stock has increased 31% in the last 12 months.