Auto parts supplier BorgWarner has raised its full year adjusted profit outlook aided by sustained demand for its exhausts, turbos and emission control systems.
BorgWarner, which supplies Ford and Volkswagen, develops and manufactures products to improve fuel economy, EV powertrains, chargers and battery systems, among other components, a Reuters report noted.
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The company has benefited from automakers rushing to put out vehicles with smaller engines that are powerful and meet modern emission norms.
BorgWarner now expects its full year adjusted profit per share to be between US$3.80 and $4.15, compared with its prior outlook of $3.65 to $4.00, the report said.
On an adjusted basis, BorgWarner earned $1.03 per share in the quarter ended 31 March compared with LSEG estimates of 87 cents.
Q1 revenue rose about 6.3% from a year earlier to $3.6bn compared with analysts’ estimates of about $3.51bn, Reuters said.
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