BorgWarner Slashes FY20 Net Sales Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, technology solutions provider BorgWarner Inc. (BWA) slashed its net sales guidance for the full-year 2020 as global light vehicle production expectations remain volatile due to the impact of coronavirus (COVID-19).

For fiscal 2020, the company now projects net sales between $7.25 billion and $8.0 billion, implying year-over-year organic sales decline of 20 to 27 percent.

Previously, the company expected net sales between $9.750 billion and $10.075 billion, implying year-over-year organic sales change between about down 2.5 percent and up 0.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report net sales of $8.51 billion for the year. Analysts' estimates typically exclude special items.

This guidance is for BorgWarner as currently consolidated and excludes the potential impact from the acquisition of Delphi Technologies PLC, which BorgWarner is announcing on January 28, 2020.