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BorgWarner Reports 13% Gain in Adjusted Earnings
Powertrain components supplier BorgWarner Inc. posted an operating income of $209 million in October-December, reversing a $458 million loss in the same period of 2016.
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Powertrain components supplier BorgWarner Inc. posted an operating income of $209 million in October-December, reversing a $458 million loss in the same period of 2016.
Revenue for the period climbed 15% to $2.6 billion. The company narrowed its net loss for the quarter to $146 million from $293 million last year in spite of a $274 million charge related to restructured U.S. corporate taxes.
For the full year, BorgWarner’s operating income surged to $1.1 billion from $226 million in 2016. Revenue grew 8% to $9.8 billion. Net earnings more than tripled to $440 million.
The company forecasts organic growth in sales revenue of 5%-7% this year after a 3%-5% gain in the current quarter.
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