July 25 BorgWarner Inc, maker of
automotive turbochargers and emission systems, posted
higher-than-expected profit on Thursday as global demand for
more fuel-efficient vehicles continued to rise in the second
quarter, the company said.
Borg Warner also raised its earnings forecast for 2013 to a
range of $5.40 per share to $5.55 per share from a previous
range of $5.15 to $5.45.
Net earnings in the second quarter rose to $142 million, or
$1.50 per share, compared to $121 million, or $1.00 per share,
in the year-earlier period.
BorgWarner's earnings of $1.50 a share beat analyst
expectations of $1.40 per share, according to Thomson Reuters
Sales were $1.89 billion compared with $1.86 billion a year
ago. Analysts had expected $1.92 billion.