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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.
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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.
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