BorgWarner Earnings Beat Estimates on Diesel Demand
Auto-industry supplier BorgWarner (NYSE: BWA) said that its net income fell 4.3% in the fourth quarter of 2019, to $220 million, as it was able to largely offset the effects of a slowdown in commercial-vehicle demand with stronger demand for light-vehicle parts and better-than-expected demand for diesel engines in Europe.
Excluding one-time items, BorgWarner earned $1.17 per share in the fourth quarter, down from $1.21 per share a year ago but well ahead of analysts' consensus estimate of $1.02. Revenue of $2.56 billion was roughly flat but exceeded Wall Street's $2.49 billion estimate.
The company also gave cautiously upbeat guidance for 2020.
Source Fool.com
