Automobile

BorgWarner benefits from auto recovery – Just Auto

BorgWarner booked sales of US$3,758m for the second quarter 2021, up 164% from $1,426m for Q2 2020, due to the recovery of global markets from the negative effects of COVID-19 on 2020 production, the acquisition of Delphi Technologies and increased demand for products.

Net Q2 earnings were $247m, or $1.03 per share, compared with a net loss of $98m ($0.47) a year before.

For the first half of 2021, sales were $7,767m, up 110% and net earnings were $312m, ($1.30) compared with $31m and $0.15 for H1 2020.

For full year 2021, sales are expected to be in the range of $15.2bn to $15.6bn, up 14% to 17%.

Operating margin for the full year is expected to be in the range of 8.7% to 9.3%.

Net earnings should be between $2.80 and $3.21 per share.



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