BorgWarner (BWA) Tops Q2 EPS by 7c, Updates Guidance
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BorgWarner (NYSE: BWA) reported Q2 EPS of $1.18, $0.07 better than the analyst estimate of $1.11. Revenue for the quarter came in at $2.69 billion versus the consensus estimate of $2.72 billion.
GUIDANCE:
BorgWarner sees Q3 2018 EPS of $4.45-$4.50, versus the consensus of $4.38.
- The company has increased its 2018 full year organic growth guidance. Full year net sales are expected to be $10.64 billion to $10.75 billion, implying organic sales growth of approximately 6.0% to 7.0%. Foreign currencies are expected to increase sales by $220 million, due to the appreciation of the Euro and Chinese Yuan. The acquisition of Sevcon will increase sales by approximately $50 million. Excluding the impact of noncomparable items, operating margin is expected to be in the range of 12.5% to 12.6%. Net earnings are now expected to be within a range of $4.45 to $4.50 per diluted share, with the increase in guidance due to the revised organic sales growth guidance and a decrease in the company's expected tax rate.
For earnings history and earnings-related data on BorgWarner (BWA) click here.
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