Investor Alert

Oct. 29, 2020, 7:25 a.m. EDT

BorgWarner profit, sales exceed expectations

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

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.

Write to Dave Sebastian at dave.sebastian@wsj.com

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.