BorgWarner Updates Full Year Sales, EPS Guidance

(RTTNews) - BorgWarner Inc. (BWA) said, for full year 2023, the company expects net earnings per share to be within a range of $2.65 to $2.81. Excluding the impact of non-comparable items, adjusted net earnings are expected to be within a range of $3.60 to $3.80 per share. Net sales for 2023 are expected to be in the range of $14.1 billion to $14.3 billion, which implies a year-over-year increase in organic sales of 12% to 14%.

BorgWarner expects its 2023 eProduct sales to be $2.0 billion to $2.1 billion, up from approximately $1.5 billion in 2022. The company has signed an agreement with a major North American OEM to supply its bi-directional 800V Onboard Charger for use on the automaker's premium passenger car battery electric vehicle platforms.

Third quarter net earnings from continuing operations were $87 million, or $0.37 per share, compared with $173 million, or $0.73 per share, a year ago. Adjusted net earnings per share were $0.98, compared to $0.80. Analysts on average had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Third quarter net sales were $3.62 billion, an increase of 12% from last year. Analysts on average had estimated $3.66 billion in revenue.

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