AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Thursday reported second-quarter earnings of $224 million.
The Auburn Hills, Michigan-based company said it had profit of $1.03 per share. Earnings, adjusted for one-time gains and costs, came to $1.21 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The auto parts supplier posted revenue of $3.64 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $3.56 billion.
BorgWarner expects full-year earnings in the range of $4.45 to $4.65 per share, with revenue in the range of $14 billion to $14.4 billion.
BorgWarner shares have risen almost 9% since the beginning of the year, while the S&P’s 500 index has climbed 8%. The stock has risen slightly more than 6% 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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