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UPDATE 1-BorgWarner Q1 profit beats Street estimates
April 28, 2011 / 3:19 PM / 7 years ago

UPDATE 1-BorgWarner Q1 profit beats Street estimates

DETROIT, April 28 (Reuters) - BorgWarner Inc (BWA.N) reported a higher-than-expected quarterly profit on Thursday, driven by revenue that surpassed Wall Street estimates in a recovering global auto market.

The company posted first-quarter earnings of $1 per share, above the analysts’ average estimate of 96 cents, according to Thomson Reuters I/B/E/S.

The auto parts supplier reported revenue of $1.73 billion, compared with analysts’ expectations of $1.63 billion.

BorgWarner reiterated its 2011 earnings forecast of $3.85 to $4.15 per share. Revenue is expected to be as much as 23 percent higher than in 2010.

The company said it expected supply disruptions stemming from Japan to have a “limited” impact. (Reporting by Deepa Seetharaman; Editing by Lisa Von Ahn)

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