AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Thursday reported fourth-quarter earnings of $220 million.
On a per-share basis, the Auburn Hills, Michigan-based company said it had net income of $1.06. Earnings, adjusted for one-time gains and costs, came to $1.17 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The auto parts supplier posted revenue of $2.56 billion in the period, which met Street forecasts.
For the year, the company reported profit of $746 million, or $3.61 per share. Revenue was reported as $10.17 billion.
BorgWarner expects full-year earnings in the range of $3.85 to $4.15 per share, with revenue in the range of $9.75 billion to $10.07 billion.
BorgWarner shares have dropped 20% since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 5%. The stock has fallen 14% in the last 12 months.