Borg Warner released its 3rd quarter results today, and the earnings report shows that the economic downturn has affected the company’s business. Compared to a year ago, third quarter sales stayed the same at $1,316.9 million. US GAAP earnings were a loss of $1.12 per diluted share, but this is largely because of one-time items. Excluding those one time charges, earnings would have been 44 cents per share. The company has also revised its … Read the rest
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Borg Warner (BWA) Expects to Benefit Big From Fuel Efficiency Revolution
Borg Warner (BWA) is announcing this morning that they expect $2.1 billion in new business (80% coming from Asia and Europe) over the next 3 years despite a horrendous global auto industry. The company is a key player in the auto fuel efficiency revolution with its gas/diesel turbochargers and dual transmission technology driving the company’s growth.
“While the current economic crisis is expected to slow near-term, global auto sales, climate change and fuel economy remain … Read the rest