BorgWarner Adjusts FY18 Adj. EPS Guidance; Issues 2023 Outlook - Quick Facts

(RTTNews) - BorgWarner Inc. (BWA) announced it has moderated 2018 organic growth guidance, due to weaker industry volumes primarily in China, with additional short-term issues in Europe. Full year net sales are now expected to be in the range of $10.49 billion to $10.58 billion. This implies organic sales growth of approximately 4.5% to 5.5%. Full year adjusted net earnings are now expected to be within a range of $4.35 to $4.40 per diluted share.

The company expects third quarter organic net sales growth of approximately 3.0% to 3.5%. Third quarter adjusted net earnings are now expected to be within a range of $0.98 to $1.00 per diluted share.

BorgWarner announced, for 2023, the company anticipates consolidated revenue of approximately $14.0 billion. Operating margin is expected to improve to the low 13% range by 2023. Free cash flow is expected to be approximately $1.0 billion.