BorgWarner has recorded third-quarter net sales up 2% to US$2.53bn as increased demand for the company’s products offset lower industry production volume.

Net earnings for the third quarter of 2020 were US$111m compared with net earnings of US$194m for the third quarter of 2019.

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Full Year 2020 Guidance:

For full-year, 2020, net sales are expected to be in the range of Us$9.7bn to US$9.85bn, with the assumption there are not additional production disruptions arising from COVID-19. This implies a year-over-year decrease in organic sales of 12.5% to 13.5%.

The company expects its blended light-vehicle market to decline in the range of around 18.5% to 19% in 2020. The divestiture of the thermostat product line decreased year-over-year sales by approximately US$30m.

Foreign currencies are expected to result in a year-over-year decrease in sales of around US$18m.

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