AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Wednesday reported first-quarter net income of $65 million.
On a per-share basis, the Auburn Hills, Michigan-based company said it had profit of 27 cents. Earnings, adjusted for one-time gains and costs, were $1.21 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The auto parts supplier posted revenue of $4.01 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $3.59 billion.
BorgWarner expects full-year earnings in the range of $4 to $4.35 per share, with revenue in the range of $14.8 billion to $15.4 billion.
BorgWarner shares have climbed 26% since the beginning of the year, while the S&P’s 500 index has climbed 11%. The stock has climbed 79% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BWA at https://www.zacks.com/ap/BWA
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