AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Wednesday reported second-quarter earnings of $303 million.
The Auburn Hills, Michigan-based company said it had profit of $1.34 per share. Earnings, adjusted for one-time gains and costs, were $1.19 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The auto parts supplier posted revenue of $3.6 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $3.73 billion.
BorgWarner expects full-year earnings in the range of $3.95 to $4.15 per share, with revenue in the range of $14.1 billion to $14.4 billion.
BorgWarner shares have fallen 9.5% since the beginning of the year, while the S&P’s 500 index has increased 14%. The stock has decreased 30% in the last 12 months.
