Borgwarner, Inc. (BWA) Tops Q1 EPS by 4c; Raises Low-End of FY14 EPS Outlook

Borgwarner, Inc. (NYSE: BWA) reported Q1 EPS of $0.83, $0.04 better than the analyst estimate of $0.79. Revenue for the quarter came in at $2.08 billion versus the consensus estimate of $2.07 billion.

Borgwarner, Inc. sees FY2014 EPS of $3.15-$3.30, versus prior guidance of $3.10-$3.30 and the consensus of $3.30..

"We had an excellent first quarter," said James R. Verrier, President and Chief Executive Officer, BorgWarner. "The worldwide adoption of our leading edge powertrain technology, designed to improve fuel economy, emissions and vehicle performance, drove strong sales growth. Operating income, excluding non-comparable items, as a percentage of net sales, was 13.1% in the quarter, primarily due to outstanding performance from our operations."

"Additionally," Verrier continued, "we completed the acquisition of Wahler, a leading producer of EGR valves, EGR tubes and thermostats. As emissions regulations become more stringent and drivers require more fuel economy, demand for EGR technologies is expected to continue to grow and BorgWarner is positioned to deliver."

For earnings history and earnings-related data on Borgwarner, Inc. (BWA) click here.

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