BorgWarner has recorded third-quarter US net sales up 9.1% to US$2.42bn, while operating income was US$276m.
Full year net sales are expected to be $9.67bn – $9.70bn, implying organic net sales growth of 9% to 9.5%. The acquisition of Sevcon is expected to increase full year net sales by around $15m. Foreign currencies are expected to increase sales by approximately $37m, due to the appreciation of the Euro.
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The divested Remy light vehicle aftermarket business contributed net sales of approximately US$255m in 2016. Net earnings are now expected to be within a range of $3.81 to $3.83 per diluted share, with the increase in guidance primarily due to higher than previously expected sales.
Excluding the impact of non-comparable items but including the dilutive impact of Sevcon, operating margin is expected to improve by approximately 20 to 30 basis points.
BorgWarner produces technology solutions for combustion, hybrid and electric vehicles. With manufacturing and technical facilities in 65 locations in 17 countries, the company employs around 27,000 staff worldwide.
