Key Developments: BorgWarner Inc (BWA)
13 Mar 2014
Latest Key Developments (Source: Significant Developments)
BorgWarner Inc. reaffirmed fiscal 2012 guidance and expects fiscal 2012 earnings guidance of $5.35-$5.65 per share and sales to grow 10%-12% points over fiscal 2011. The Company reported revenue of $7.114 billion for fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $5.49 and revenue of $7.961 billion for fiscal 2012. Full Article
Borgwarner Inc. Appoints Ronald Hundzinski As Chief Financial Officer And James Verrier As President
BorgWarner Inc. announced the appointment of Ronald Hundzinski to Chief Financial Officer and James Verrier to the newly-created position of President and Chief Operating Officer, effective immediately. Robin Adams has been promoted to Vice Chairman of the Board of Directors and remains Executive Vice President and Chief Administrative Officer reporting to Tim Manganello, Chairman of the Board of Directors and Chief Executive Officer. Mr. Hundzinski will report to Mr. Adams and Mr. Verrier will report to Mr. Manganello. Full Article
DETROIT, Feb 13 - BorgWarner Inc, which makes automotive turbochargers and emissions systems, posted a higher-than-expected quarterly profit on Thursday on strong demand for all-wheel drive systems, dual clutch transmission modules and other parts in its drivetrain business.