BorgWarner: Q1 Earnings Snapshot
By AP News
Published - May 04, 2023, 06:51 AM ET
Last Updated - Jun 21, 2023, 10:58 PM EDT
AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Thursday reported first-quarter profit of $217 million.
On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of 93 cents. Earnings, adjusted for non-recurring costs, came to $1.09 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The auto parts supplier posted revenue of $4.18 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $4.21 billion.
