Borg Warner (BWA) shares were gaining nearly 3% in early Thursday trading, after the company reported Q3 adjusted earnings of $1.09 per diluted share, up from $0.98 a year earlier.
Analysts polled by Capital IQ expected $0.93.
Net sales for the quarter ended Sept. 30 were $3.45 billion, compared with $3.62 billion a year earlier.
Analysts expected $3.53 billion.
For 2024, the auto-parts company is now projecting adjusted earnings of $4.15 to $4.30 per diluted share on revenue of $14 billion to $14.2 billion. That compares with its prior forecast range expecting adjusted earnings of $3.95 to $4.15 per diluted share and $14.1 billion to $14.4 billion, respectively.
Analysts are looking for adjusted earnings of $4.10 per diluted share on revenue of $14.26 billion.
Price: 35.20, Change: +1.65, Percent Change: +4.92
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