BorgWarner (BWA) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.82. The company posted revenue of $2329.20 million in the period, compared to analysts expectations of $2322.97 million. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.
Many Wall Street Analysts have commented on BorgWarner. BorgWarner was Downgraded by BofA/Merrill to ” Neutral” on Jun 21, 2016.
BorgWarner closed down -1.72 points or -5.03% at $32.49 with 35,13,514 shares getting traded on Thursday. Post opening the session at $33.07, the shares hit an intraday low of $31.94 and an intraday high of $33.44 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 31, 2016, Dennis C Cuneo (director) sold 2,500 shares at $33.53 per share price. According to the SEC, on May 4, 2016, Ronald T Hundzinski (Vice President and CFO) sold 3,721 shares at $35.06 per share price. On Mar 17, 2016, Alexis P Michas (director) sold 10,000 shares at $36.69 per share price, according to the Form-4 filing with the securities and exchange commission.
BorgWarner Inc. is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’ develops and manufactures products in gasoline and diesel engines and alternative powertrains. The Drivetrain segment develops and manufactures products for automatic transmissions and all-wheel drive (AWD) vehicles. The Company manufactures and sells the product across the world to equipment manufacturers (OEMs) of light vehicles. The Company sells the products to other OEMs of commercial vehicles and off-highway vehicles (agricultural and construction machinery and marine applications). It also manufactures and sells its products to Tier One vehicle systems suppliers and into the aftermarket for light commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in the Americas Europe and Asia and is an equipment supplier to automotive OEM.