BorgWarner Beats EPS Estimates by $0.05, 'Cautiously Optimistic' About Fourth Quarter (BWA)

Wed. October 28, 2009; Posted: 09:18 AM

Oct 28, 2009 (SmarTrend(R) News Watch via COMTEX) -- BWA | Quote | Chart | News | PowerRating -- 10/28/2009 - BorgWarner (NYSE:BWA) reported Q3 EPS of $0.15, beating consensus analyst estimates of $0.10. Revenues for the quarter declined 21.9% year-over-year to $1.03 billion, coming out ahead of consensus estimates of $1.01 billion. Chairman and CEO Timothy Manganello said, "Our earnings performance in the third quarter, which has lifted us to near breakeven levels year to date on a recurring basis, is a direct result of resizing our business for profitability at these sales levels." Commenting on outlook, he added, "We continue to be cautiously optimistic about the fourth quarter. We expect production volumes to be incrementally higher than third quarter levels in North America, while visibility in Europe remains limited due to uncertainty surrounding consumer demand, the impact of expiring government-sponsored incentive programs and other market dynamics. Ultimately, we expect it to be another profitable quarter for our company."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Borg Warner Inc (BWA) click here. Borg Warner Inc (BWA) has Short Term PowerRatings of 5. Details on Borg Warner Inc (BWA) Short Term PowerRatings is available at This Link.

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