BorgWarner has unveiled second-quarter net earnings down 37% to US$172m, while six-month numbers fell to US$332m from US$497m.
The company has adjusted its 2019 full year guidance. Net sales are expected to be in the range of US$9.94bn to US$10.18bn. This implies year-over-year organic sales change of down 2.5% to flat.
Go deeper with GlobalData
The company expects its market to decline in the range of 3.5% to 5% in 2019. Global light vehicle production expectations remain volatile, particularly in China.
Foreign currencies are expected to decrease year-over-year sales by US$270m, primarily due to the depreciation of the Euro, Chinese Renminbi and Korean Won.
The divestiture of the thermostat product line will decrease year-over-year sales by around US$90m.
The supplier posted full-year 2018 net sales up 7.5% to US$10.5bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFull-year 2018 net earnings were US$931m, up from US$440m.
The impact of foreign currencies increased net sales by around US$202m and increased net earnings by US$0.08 per diluted share in 2018 compared with 2017.
