BorgWarner: Q3 Earnings Snapshot
AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Thursday reported third-quarter profit of $50 million.
On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of 21 cents. Earnings, adjusted for non-recurring costs and pretax expenses, came to 98 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The auto parts supplier posted revenue of $3.62 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $3.72 billion.
BorgWarner expects full-year earnings in the range of $3.60 to $3.80 per share, with revenue in the range of $14.1 billion to $14.3 billion.
BorgWarner shares have dropped nearly 8% since the beginning of the year, while the S&P's 500 index has increased 10%. The stock has decreased 0.5% 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
