BorgWarner says adjusted earnings rise 13% in Q4

DETROIT -- BorgWarner Inc. posted $389.8 million in adjusted earnings for the fourth quarter -- a 13 percent increase over the previous year.Revenue during the quarter rose 15 percent to $2.6 billion for the turbocharger and emissions system supplier, with core business gains driving the growth.The supplier, in a statement on Thursday, said adjusted profit for the fourth quarter exceeded analysts' expectations with $1.07 per share, excluding non-comparable items, compared with 85 cents for the fourth quarter of 2016.The adjusted earnings figure excludes interest, taxes and onetime events.BorgWarner shares fell 5.5 percent to close at $51.94 on Thursday.Revenue from the drivetrain unit shot up 16 percent to $1.02 billion from $883 million last year, while engine division's sales surged 14 percent to $1.58 billion, from $1.38 billion from the same period in 2016.Including onetime gains and losses, BorgWarner posted a quarterly net loss of $146 million, compared with a net loss of $293 million last year. During the recent quarter, the company recorded a $273.5 million charge for recently enacted U.S. tax reforms.For the full year, BorgWarner's adjusted earnings before interest, taxes and onetime events rose 10 percent to $1.4 billion. Revenue improved 8 percent to $9.8 billion.The company said it will retain 2018 expectations for organic growth between 5 and 7 percent.BorgWarner, based in suburban Detroit, ranks No. 27 on the Automotive News list of the top 100 global suppliers, with worldwide sales to automakers of $9.1 billion in 2016.

BorgWarner says adjusted earnings rise 13% in Q4

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