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BorgWarner Lifts Q1, FY18 Forecast - Quick Facts

BorgWarner Inc. (BWA), a provider of technology solutions, Thursday said it expects first-quarter 2018 net earnings to be in a range of $0.99 to $1.03 per share, and organic net sales growth of 3.0% to 5.5% compared with last year net sales of $2.41 billion.

Earlier, the company projected net earnings of $0.97 to $1.01 per share; and organic net sales growth of 3.0% to 5.5%.

On average, 10 analysts polled by Thomson Reuters expect earnings of $1.05 per share for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2018, net earnings are now expected to be within a range of $4.25 to $4.35 per share, with the increase in guidance primarily due to a lower tax rate assumption and larger benefit from foreign currencies. The company previously expected net earnings of $4.15 to $4.25 per share.

Further, the company has reaffirmed its organic growth guidance. Full year net sales are expected to be between $10.52 billion and $10.69 billion, implying organic sales growth of 5.0% to 7.0%, compared to the earlier projected range of $10.4 billion to $10.6 billion.

Analysts expect earnings of $4.32 per share on revenues of $10.53 billion for the year.

Separately, the board of directors of BorgWarner declared a quarterly cash dividend of $0.17 per share of common stock, payable on March 15 to shareholders of record on March 1, 2018.

by RTTNews Staff Writer

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