BorgWarner Earnings: Solid Results but Uncertainty Over Electric Vehicle Outlook Hits Stock Price
Narrow-moat-rated BorgWarner reported third-quarter earnings per share before special items of $0.98, $0.04 better than the $0.94 FactSet consensus and $0.18 above last year. Revenue declined by 11% to $3.6 billion from $4.1 billion a year ago but, excluding currency, acquisitions, and discontinued operations, organic revenue rose 11%, 5 percentage points better than a 6% increase in global light-vehicle production, weighted to BorgWarner's customer base, on new business and customer cost recoveries.