NEW YORK -- BorgWarner Inc. on Tuesday affirmed its outlook for higher 2005 results amid global demand for its engine and drivetrain products that enhance fuel economy and reduce emissions.
The Auburn Hills, Mich.-based company said it expects earnings of $4.30 a share to $4.55 a share, including 15 cents a share to 30 cents a share from its acquisition of a majority interest in German automotive supplier Beru AG. For its base business, the manufacturer forecast earnings of $4.15 a share to $4.25 a share.
It forecast sales growth of 8 percent to 10 percent in its base business, with growth from the Beru deal on top of that.
Analysts had expected earnings in the range of $4.26 a share to $4.55 a share, or a consensus of $4.42, on revenue of $4.42 billion, according to Reuters Estimates. For all of 2004, BorgWarner earned $3.86 per share on sales of $3.53 billion.
BorgWarner is 29th on the Automotive News ranking of top suppliers to North American manufacturers with $1.56 billion in original equipment sales in 2003.