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BorgWarner raises full-year 2024 adjusted profit outlook
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BorgWarner raises full-year 2024 adjusted profit outlook
May 2, 2024 4:28 AM

May 2 (Reuters) - Auto parts supplier BorgWarner ( BWA )

raised its full-year adjusted profit outlook on Thursday, aided

by sustained demand from its exhausts, turbos and emission

control systems.

BorgWarner ( BWA ), which supplies parts to Ford Motor ( F ) and

Volkswagen, develops and manufactures products to

improve fuel economy, EV powertrains, chargers and battery

systems, among other components.

The company has benefited from automakers rushing to put out

vehicles with smaller engines that are powerful and meet modern

emission norms.

BorgWarner ( BWA ) now expects its full-year adjusted profit per

share to be between $3.80 and $4.15, compared with its prior

outlook of $3.65 to $4.00.

On an adjusted basis, BorgWarner ( BWA ) earned $1.03 per share in

the quarter ended March 31, compared with LSEG estimates of 87

cents.

The company's first-quarter revenue rose about 6.3% from a

year earlier to $3.6 billion, compared with analysts' estimates

of about $3.51 billion.

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