BorgWarner raises full-year 2024 adjusted profit outlook
May 2 (Reuters) -Auto parts supplier BorgWarner BWA.N raised its full-year adjusted profit outlook on Thursday, aided by sustained demand from its exhausts, turbos and emission control systems.
BorgWarner, which supplies parts to Ford Motor F.N and Volkswagen VOWG_p.DE, develops and manufactures products to improve fuel economy, EV powertrains, chargers and battery systems, among other components.
The company has benefited from automakers rushing to put out vehicles with smaller engines that are powerful and meet modern emission norms.
BorgWarner now expects its full-year adjusted profit per share to be between $3.80 and $4.15, compared with its prior outlook of $3.65 to $4.00.
On an adjusted basis, BorgWarner earned $1.03 per share in the quarter ended March 31, compared with LSEG estimates of 87 cents.
The company's first-quarter revenue rose about 6.3% from a year earlier to $3.6 billion, compared with analysts' estimates of about $3.51 billion.
Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
