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Borgwarner (BWA) Forecasts Earnings, Sales Growth For 2013; Shares Rise

 January 16, 2013 09:51 AM
 


(By Balachander) BorgWarner Inc. (NYSE: BWA), which supplies engineered automotive systems for powertrain applications, forecast earnings and sales growth for 2013, saying demand for its product technologies continues to accelerate.

The Auburn Hills, Michigan-based-based company expects earnings per share (EPS) of $5.15 to $5.45 for 2013, up 5 percent to 9 percent from 2012 EPS view of $4.90 to $5.00, excluding items.

Wall Street analysts, on average, expect EPS of $4.95 for 2012 and $5.24 for 2013.

The company anticipates reported sales growth of 2 percent to 6 percent driven by its backlog of net new business.

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Excluding the impact of disposal activities in 2012, BorgWarner expects sales growth to be 3 percent to 7 percent versus consensus estimates of an increase of 4.70 percent for 2013.

The company forecast global light vehicle production to rise roughly 1 percent, and European light vehicle production to drop 3 percent for the year.

BorgWarner expects its 2013 operating income margin to be 11.5 percent or better, in line with its 2012 outlook, citing incremental income from higher sales, restructuring actions taken in 2012 and cost reduction plans.

The company's customers include Ford (F), General Motors (GM), Toyota (TM), Daimler and Chrysler, among others.

The stock, which has been trading in the 52-week range of $60.17 to $87.45, added 3.71 percent to trade at $76.33 on Wednesday.

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