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BorgWarner Raises FY18 EPS, Organic Sales Growth Forecast - Quick Facts

BorgWarner Inc. (BWA), a provider of technology solutions, Thursday raised its net earnings guidance for the full year 2018 to a range of $4.45 to $4.50 per share from the prior forecast range of $4.30 to $4.40 per share.

Full-year net sales are now expected between $10.64 billion and $10.75 billion, implying organic sales growth of about 6.0 to 7.0 percent.

Earlier, the company had projected full -year net sales to be between $10.77 billion and $10.94 billion, implying organic sales growth of 5.0 to 7.0 percent.

On average, analysts polled by Thomson Reuters expect earnings of $4.38 per share on sales of $10.89 billion for the year. Analysts' estimates typically exclude special items.

Further, the company established a third-quarter net earnings forecast in the range of $1.03 to $1.06 per share on organic net sales growth of 4.5 to 6.5 percent. Analysts expect earnings of $1.05 per share for the quarter.

Separately, the board of directors of BorgWarner declared a quarterly cash dividend of $0.17 per share of common stock, payable on September 17, 2018 to shareholders of record on September 4, 2018.

Second-quarter net earnings per share grew to $1.30 from $1.00 in the prior year. Excluding certain items, adjusted earnings were $1.18 per share. Net sales grew 12.7 percent to $2.69 billion from last year's $2.39 billion. Excluding the impact of foreign currencies and the acquisition of Sevcon, net sales were up 7.3 percent.

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