BorgWarner (BWA) Misses Q3 EPS by 5c, Revenues Miss; Affirms FY18 EPS/Revenue Outlook
BorgWarner (NYSE: BWA) reported Q3 EPS of $1.00, $0.05 worse than the analyst estimate of $1.05. Revenue for the quarter came in at $2.48 billion versus the consensus estimate of $2.53 billion.
- U.S. GAAP net sales of $2,479 million, up 2.6% compared with third quarter 2017.
- On a comparable basis, excluding the impact of foreign currencies and the acquisition of Sevcon, net sales were up 3.6% compared with third quarter 2017.
- U.S. GAAP net earnings of $0.98 per diluted share.
- Excluding non-comparable items (detailed in the table below), net earnings were $1.00 per diluted share.
- U.S. GAAP operating income of $278.0 million.
- Adjusted operating income was 11.8% of net sales.
GUIDANCE:
BorgWarner sees FY2018 EPS of $4.35-$4.40, versus the consensus of $4.38. BorgWarner sees FY2018 revenue of $10.49-10.58 billion, versus the consensus of $10.54 billion.
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