AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Thursday reported third-quarter net income of $234 million.
On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of $1.04. Earnings, adjusted for one-time gains and costs, were $1.09 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The auto parts supplier posted revenue of $3.45 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $3.53 billion.
BorgWarner expects full-year earnings in the range of $4.15 to $4.30 per share, with revenue in the range of $14 billion to $14.2 billion.
BorgWarner shares have decreased slightly more than 6% since the beginning of the year, while the S&P’s 500 index has increased 22%. The stock has fallen almost 9% in the last 12 months.
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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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