View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 28, 2016updated 09 Apr 2021 9:48am

BorgWarner unveils Q1 net sales up 14.3% to US$2.3bn

BorgWarner has recorded Q1 net sales of US$2.3bn, up 14.3%, with operating income of US$264m

BorgWarner has recorded Q1 net sales of US$2.3bn, up 14.3%, with operating income of US$264m.

The company has updated its 2016 full year guidance with net sales growth now expected to be within a range of 12.7% to 17.5% compared with 2015.

Engine segment net sales were US$1.399bn in first quarter, 2016, compared with US$1.381bn million in first quarter 2015. Excluding the impact of foreign currencies, primarily the euro, net sales were up 4.5% from the prior year’s quarter.

Adjusted earnings before interest, income taxes and non-controlling interest were US$233m in first quarter 2016. Excluding the impact of foreign currencies, adjusted EBIT was US$240m, up 4.2% from first quarter 2015.

Drivetrain segment net sales were US$879m compared with US$611m in first quarter 2015. Excluding the impact of foreign currencies, primarily the Euro and the Remy acquisition, net sales were up 4.8% from the prior year’s quarter.

Adjusted EBIT was US$84m and excluding the impact of foreign currencies and the Remy acquisition, adjusted EBIT was US$76m, up 6.4% from first quarter 2015.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto