BorgWarner earnings rise on demand for fuel-efficient vehicles
July 25 (Reuters) - BorgWarner Inc, maker of automotive turbochargers and emission systems, posted higher-than-expected profit on Thursday as global demand for more fuel-efficient vehicles continued to rise in the second quarter, the company said.
Borg Warner also raised its earnings forecast for 2013 to a range of $5.40 per share to $5.55 per share from a previous range of $5.15 to $5.45.
Net earnings in the second quarter rose to $142 million, or $1.50 per share, compared to $121 million, or $1.00 per share, in the year-earlier period.
BorgWarner's earnings of $1.50 a share beat analyst expectations of $1.40 per share, according to Thomson Reuters I/B/E/S.
Sales were $1.89 billion compared with $1.86 billion a year ago. Analysts had expected $1.92 billion.