AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Thursday reported third-quarter profit of $158 million.
On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of 73 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.24 per share.
The results exceeded 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 $3.59 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $3.63 billion.
BorgWarner expects full-year revenue in the range of $14.1 billion to $14.3 billion.
BorgWarner shares have increased 35% since the beginning of the year, while the S&P’s 500 index has risen 17%. The stock has increased 25% 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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