Mexican Media Brands
BorgWarner Earnings Surge 44%
BorgWarner Inc. net profit jumped to $174 million in the second quarter of 2013 compared with $121 million a year earlier.
#economics
Share
BorgWarner Inc. net profit jumped to $174 million in the second quarter of 2013 compared with $121 million a year earlier.
Revenue rose 2% to $1.9 billion. The company cites continuing strong demand for its fuel-efficient, low-emissions powertrain technology.
Quarterly operating income climbed 26% year over year to $243 million for a record 12.9% return on sales.
BorgWarner's engine unit boosted adjusted earnings before interest and taxes 5% to $220 million in the April-June period. Revenue edged up 1% to $1.3 billion.
The drivetrain group hiked adjusted EBIT 10% to $60 million in the latest quarter. Revenue advanced 3% to $614 million.
The company upgraded its guidance for adjusted 2013 earnings to as much as $5.55 per share, 10 cents higher than the upper end of its previously estimated range. BorgWarner also narrowed its prediction for full-year revenue growth to a range of 3% to 5% from its earlier forecast of 2% to 6%.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.