AUBURN HILLS, Mich. (AP) _ BorgWarner Inc. (BWA) on Thursday reported first-quarter net income of $160 million.
The Auburn Hills, Michigan-based company said it had profit of 77 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The auto parts supplier posted revenue of $2.57 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $2.47 billion.
BorgWarner expects full-year earnings in the range of $4 to $4.35 per share.
BorgWarner shares have climbed 25 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. The stock has dropped 17 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BWA at https://www.zacks.com/ap/BWA
Automated Insights, source Associated Press News