AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Wednesday reported first-quarter profit of $157 million.
The Auburn Hills, Michigan-based company said it had profit of 72 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.11 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The auto parts supplier posted revenue of $3.52 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $3.39 billion.
BorgWarner expects full-year revenue in the range of $13.6 billion to $14.2 billion.
BorgWarner shares have declined almost 9% since the beginning of the year, while the S&P’s 500 index has dropped roughly 5%. The stock has declined 21% 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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