BorgWarner: Q2 Earnings Snapshot

AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Wednesday reported second-quarter net income of $216 million.

On a per-share basis, the Auburn Hills, Michigan-based company said it had profit of 91 cents. Earnings, adjusted for one-time gains and costs, were $1.05 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The auto parts supplier posted revenue of $3.76 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $3.69 billion.

BorgWarner expects full-year earnings in the range of $4 to $4.40 per share, with revenue in the range of $15.5 billion to $16 billion.

BorgWarner shares have declined 14% since the beginning of the year, while the S&P’s 500 index has decreased 14%. The stock has fallen 21% 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

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