Mexican Media Brands
BorgWarner Posts 10% Earning Hike
BorgWarner Inc.’s third quarter revenue and net income rose 3% to $2.5 billion and 10% to $204 million, respectively.
#economics
Share
BorgWarner Inc.’s third quarter revenue and net income rose 3% to $2.5 billion and 10% to $204 million, respectively.
The company, best-known for turbochargers and diesel engine components, attributes the gains to growing products for hybrid and all-electric powertrains.
BorgWarner estimates that inflation and new trade tariffs cost it about $10 billion in July-September and will probably do the same in the current quarter. Next year, the company hopes to recoup some of those expenses through higher prices to its customers.
CEO Fred Lissalde says the company is receptive to mergers and acquisitions both small and large. In the meantime, BorgWarner predicts its organic growth in 2018 will be between 4.5% and 5.5%, even though global vehicle production is likely to dip slightly.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.