AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Wednesday reported first-quarter earnings of $242 million.
The Auburn Hills, Michigan-based company said it had profit of $1.16 per share. Earnings, adjusted for non-recurring costs, were $1.24 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.
The auto parts supplier posted revenue of $3.53 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $3.47 billion.
BorgWarner expects full-year earnings in the range of $5 to $5.20 per share, with revenue in the range of $14 billion to $14.3 billion.
BorgWarner shares have increased 27% since the beginning of the year, while the S&P’s 500 index has risen 6%. The stock has risen 94% in the last 12 months.
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This story was generated by (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a at https://www.zacks.com/ap/BWA
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