- Revenues rose 34.4% year/year to $1.73 bln vs the $1.63 bln consensus.
- Co reaffirms EPS guidance for FY11, sees EPS of $3.85-4.15 vs. $4.13 Thomson Reuters consensus.
- Rev growth in 2011 is now expected to be 19% to 23% compared with 2010, up from the previous guidance range of 16% to 20%, primarily due to the Haldex Traction Systems acquisition that closed in January.
Full report here.
- Excluding the impact of currency and sales related to the Haldex and ENSA acquisitions, our sales were up approximately 26% in the first quarter, compared with a global market that grew only 5%. We successfully managed costs while growing our sales during the quarter resulting in a solid operating income margin of 10.4%.
- "Clearly there is great deal of concern regarding the disasters in Japan and their impact on the global automotive market," Manganello said. "While uncertainty remains, we expect that the impact on our business will be limited. Vehicle demand remains strong in our largest markets and should offset the volume declines in Japan."
[Jan 12, 2011: BorgWarner Guides to 35-40% Earnings Growth in 2011]
[Dec 16, 2010: BorgWarner is a Stud]
[Oct 28, 2010: BorgWarner Raises Guidance]
[Jul 30, 2010: BorgWarner Beats, Raises - Auto Supplier Base Continues to Look Interesting]