BorgWarner Q2 net earnings up 28% to US$272m

BorgWarner has posted second-quarter net earnings up 28% to US$272m, while net sales rose 13% to US$2.7bn.

Excluding the impact of foreign currencies and the acquisition of Sevcon, net sales were up 7.3% compared with second quarter, 2017.

The impact of foreign currencies increased net sales by around US$112m and increased net earnings by approximately US$0.05 per diluted share in second quarter, 2018 compared with second quarter, 2017.

The Sevcon acquisition increased net sales by US$18m in the second quarter, 2018, compared with second quarter, 2017.

Full year net sales are expected to be US$10.64bn to US$10.75bn, implying organic sales growth of around 6% to 7%. Foreign currencies are expected to increase sales by US$220m, due to the appreciation of the Euro and Chinese Yuan.

For the first six months of 2018, net sales were US$5.5bn, up 14.2% from US$4.8bn in the first six months of 2017.

Net earnings in the first six months of 2018 were US$497m, compared with US$401m in 2017.

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https://cdn.borgwarner.com/docs/default-source/press-release-downloads/2018-6-30-8-k-exhibit-99-1-press-release.pdf?sfvrsn=ebe9b73c_0

Original source: https://cdn.borgwarner.com/docs/default-source/press-release-downloads/2018-6-30-8-k-exhibit-99-1-press-release.pdf?sfvrsn=ebe9b73c_0

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