BorgWarner Boosts FY24 Earnings, Trims Sales Outlook - Update
(RTTNews) - While reporting financial results for the second quarter on Tuesday, technology solutions provider BorgWarner Inc. (BWA) raised its earnings and adjusted earnings for the full-year 2024, while trimming annual net sales outlook.
For fiscal 2024, the company now projects earnings in a range of $3.88 to $4.05 per share and adjusted earnings in a range of $3.95 to $4.15 per share on net sales between $14.1 billion an $14.4 billion, implying year-over-year organic sales growth of 0.5 to 2.5 percent.
Previously, the company expected earnings in the range of $3.54 to $3.86 per share and adjusted earnings in the range of $3.80 to $4.15 per share on net sales between $14.4 billion an $14.9 billion, implying year-over-year organic sales growth of 2 to 5 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.07 per share on revenues of $14.73 billion for the year. Analysts' estimates typically exclude special items.
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