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BorgWarner Inc. (NYSE:BWA) Slips Despite EPS Beat

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BorgWarner Inc. (NYSE:BWA) shares declined Thursday, despite higher-than-expected Q2 earnings from the supplier of engineered automotive systems and components, as its sales were merely in line with Street view and a boost to its full-year earnings guidance brought the top end of the company’s forecast only slightly above the Street view, with much of the forecast range still below it. BWA was down 3.9% at $61.99 recently, in the upper half of its 52-week range between $47.12 and $67.49.

For Q2, BorgWarner reported net income rose to $190.2 million, or $0.83 per diluted share, from $174.1 million, or $0.75 per share, a year earlier. Excluding one-time items, it earnings rose 19% to $0.89 per share, ahead of the $0.87 average estimate of analysts polled by Capital IQ. Sales rose 16% to $2.2 billion, in line with the Street’s view.

The company said it now expects full-year earnings between $3.25 and $3.35 per diluted share, up from its prior forecast for $3.15 to $3.30. The top end of the new guidance only exceeds the average estimate from analysts by one cent.

The company also raised the lower end of the guidance range for net sales growth, now expecting growth of 13% and 15%, from 12% to 15% previously. Analysts were recently predicting 14% revenue growth.

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