Mexican Media Brands
BorgWarner Quarterly Sales, Profits Drop
BorgWarner Inc. says its second-quarter revenue dropped 5% to $2.6 billion, and adjusted net earnings fell 37% to $172 million.
#economics
Share
BorgWarner Inc. says its second-quarter revenue dropped 5% to $2.6 billion, and adjusted net earnings fell 37% to $172 million.
The maker of turbocharges and other powertrain components blames its downturn on new tariffs, unfavorable exchange rates and parts from suppliers that cost more than expected. The company vows more intensive cost-cutting and restructuring measures.
BorgWarner says net sales in the current quarter will be somewhere between +1.5% and -1.5% of last year’s $2.5 billion for the same period. The company has lowered its full-year sales guidance to between $9.9 billion and $10.2 billion, compared with $10.5 billion in revenue generated in last year’s second quarter.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
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.