By Dave Sebastian
BorgWarner Inc. said its sales for the September quarter rose and adjusted earnings topped expectations, as increased demand offset lower industry production volume during the pandemic, though profit fell.
The Auburn Hills, Mich.-based company, which focuses on combustion, hybrid and electric-vehicles technology services, on Thursday reported third-quarter net profit of $111 million, or 53 cents a share, compared with $194 million, or 94 cents a share, for the comparable period last year.
Excluding 35 cents in noncomparable items, earnings were 88 cents a share. Analysts polled by FactSet had been expecting adjusted earnings of 77 cents a share.
Sales rose 2% to $2.53 billion from a year earlier. Analysts had been looking for $2.39 billion.
Engine sales fell to $1.48 billion from $1.51 billion, while drivetrain sales rose to $1.08 billion from $993 million.
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