BorgWarner beats second-quarter profit, sales on powertrain demand
BorgWarner beats second-quarter profit, sales on powertrain demand Aug 5 (Reuters) - BorgWarner BWA.N topped analysts' estimates for second-quarter profit and sales on Wednesday as the auto parts supplier benefited from steady demand for powertrain systems and turbochargers.
Its shares rose by 2.3% in premarket trading.
Here are more details:
Demand for powertrain systems and turbos has remained strong from automakers producing more efficient gas-powered engines.
BorgWarner also said that it planned to increase its annual R&D spend to help with its lineup catered to data centers.
The Michigan-based company, best known for its turbochargers, currently offers a suite of power storage systems to help run data centers.
On an adjusted basis BorgWarner earned a quarterly profit per share of $1.42, topping estimates of $1.28, according to data compiled by LSEG.
Its second-quarter net sales marginally rose to $3.65 billion from last year. Analysts on average expected the company to report quarterly net sales of $3.56 billion.
(Reporting by Nathan Gomes in Bengaluru; Editing by Leroy Leo)
((Nathan.Gomes@thomsonreuters.com;))
Recent news on BorgWarner
See all newsUS RESEARCH ROUNDUP-Eli Lilly, General Dynamics, S&P Global
BorgWarner Inc. reports results for the quarter ended September 30 - Earnings Summary
BorgWarner falls on trimmed sales forecast top-end, Q3 revenue misses
Brief: Borgwarner To Supply New Aluminum-Wire Emotor To Major Chinese Oem
Brief: Borgwarner Secures Engine Control Module Business With Major Global Oem