BorgWarner: Q1 Earnings Snapshot

AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Wednesday reported first-quarter earnings of $200 million.

On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of 84 cents. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, came to $1.05 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The auto parts supplier posted revenue of $3.87 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $3.64 billion.

BorgWarner expects full-year earnings in the range of $3.90 to $4.25 per share, with revenue in the range of $15.5 billion to $16 billion.

BorgWarner shares have decreased 15% since the beginning of the year, while the S&P’s 500 index has dropped 12%. The stock has decreased 23% 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

Categories: Business News