BorgWarner Cuts FY19 Adj. EPS, Organic Sales Growth Forecast - Quick Facts

(RTTNews) - BorgWarner Inc. (BWA), a provider of technology solutions, Thursday slashed its adjusted net earnings guidance for the full year 2019 to a range of $3.75 to $4.00 per share from the prior forecast range of $4.00 to $4.35 per share..

Full-year net sales are now expected between 9.94 billion and $10.18 billion, implying organic sales change of down 2.5 percent to flat.

Earlier, the company had projected full -year net sales to be between $9.90 billion and $10.37 billion, implying organic sales change of down 2.5 percent to up 2.0 percent.

On average, analysts polled by Thomson Reuters expect earnings of $4.12 per share on sales of $10.20 billion for the year. Analysts' estimates typically exclude special items.

Further, the company established a third-quarter adjusted net earnings forecast in the range of $0.83 to $0.90 per share on organic net sales change in the range of down 1.5 percent to up 1.5 percent. Analysts expect earnings of $1.02 per share for the quarter.

Separately, the board of directors of BorgWarner declared a quarterly cash dividend of $0.17 per share of common stock, payable on September 16, 2019 to shareholders of record on September 3, 2019.