Mexican Media Brands
BorgWarner’s Quarterly Revenue Grows 14%
BorgWarner Inc. reports its first-quarter revenue rose 14% to $2.3 billion, thanks in large part to the effect of last November’s acquisition of Remy International Inc.
#economics
Share
BorgWarner Inc. reports its first-quarter revenue rose 14% to $2.3 billion, thanks in large part to the effect of last November’s acquisition of Remy International Inc.
Adjusted earnings in the first quarter gained 5% to $317 million. Operating income grew 2% to $264 million. But restructuring and acquisition costs caused net income to fall 8% to $164 million.
The company, which makes turbochargers and engine components, anticipates its revenue this year will increase by about 13%-18%.
RELATED CONTENT
-
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.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
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.