Stock Monitor: Miller Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 13, 2018 / Active-Investors.com has just released a free earnings report on BorgWarner Inc. (NYSE: BWA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=BWA. BorgWarner reported its fourth quarter and fiscal 2017 operating and financial results on February 08, 2018. The auto parts supplier outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Miller Industries, Inc. (NYSE: MLR), which also belongs to the Consumer Goods sector as the Company BorgWarner. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, BorgWarner most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=BWA
Earnings Highlights and Summary
BorgWarner's net sales jumped 14.5% to $2.59 billion in Q4 2017 compared to net sales of $2.26 billion in Q4 2016. The Company's reported numbers exceeded analysts' estimates of $2.50 billion.
During Q4 2017, BorgWarner reported net loss of $146 million, or $0.70 per basic share, compared to a net loss of $293 million, or $1.39 per basic share, in Q4 2016. The Company's reported quarter net loss included non-comparable items of $1.76 per diluted share, while net loss in the prior year's same quarter included net non-comparable items of $2.23 per diluted share.
On an adjusted basis. BorgWarner's earnings surged 26% to $1.07 per share for Q4 2017 compared to $0.85 per share in Q4 2016. The Company's earnings beat Wall Street's estimates of $1.02 per share.
BorgWarner's full year (FY) 2017 net sales totaled $9.80 billion, up 8.0% from $9.07 billion in FY16.
For FY17, BorgWarner recorded net earnings of $440 million, or $2.08 per diluted share, compared to $119 million, or $0.55 per diluted share, in FY16. The Company's net earnings included net non-comparable items of negative $1.80 per diluted share in FY17, while results included net non-comparable items of negative $2.72 per diluted share in FY16. On an adjusted basis. BorgWarner reported earnings of $3.89 per share, up 19% compared to $3.27 per share in FY16.
BorgWarner's Segment Results
During Q4 2017, the Engine segment's net sales were $1.58 billion, up 14% compared to $1.39 billion in Q4 2016. Sales growth for the Engine segment on a comparable basis was 8.4% as demand for the Company's light vehicle OEM products was supplemented by growth in its commercial vehicle business. The segment's adjusted earnings before interest, income taxes, and non-controlling interest (Adjusted EBIT) were $266 million in the reported quarter. Excluding the impact of foreign currencies, adjusted EBIT was $258 million, up 2.9% from Q4 2016.
For Q4 2017, the Drivetrain segment's net sales rose 16% to $1.02 billion compared to $883 million in Q4 2016. Excluding the impact of foreign currencies, and the net impact of M&A, Drivetrain segment's net sales were up 13.1% on a y-o-y basis, primarily due to higher all-wheel drive and transmission components and strong dual-clutch transmission (DCT) growth in China. The segment's adjusted EBIT was $124 million in the reported quarter. Excluding the impact of foreign currencies, and the net impact of M&A, adjusted EBIT was $124 million, up 32.6% from Q4 2016.
Outlook
For full year 2018, BorgWarner is forecasting net sales to be in the range of $10.52 billion to $10.69 billion, implying organic sales growth of 5.0% to 7.0%. The Company's net earnings are expected to be within a range of $4.25 to $4.35 per diluted share in FY18, with the increase in guidance primarily due to a lower tax rate assumption and larger benefit from foreign currencies.
For Q1 2018, BorgWarner is projecting organic net sales growth of 3.0% to 5.5% compared to net sales of $2.41 billion in Q1 2017. Foreign currencies are expected to increase sales by $100 million. The Company's net earnings for the upcoming quarter are expected to be within a range of $0.99 to $1.03 per diluted share, with the increase in guidance primarily due to a lower tax rate assumption and larger benefit from foreign currencies.
Stock Performance Snapshot
March 12, 2018 - At Monday's closing bell, BorgWarner's stock declined 1.53%, ending the trading session at $50.77.
Volume traded for the day: 1.19 million shares.
Stock performance in the previous six-month period - up 9.89%; and past twelve-month period - up 21.49%
After yesterday's close, BorgWarner's market cap was at $10.65 billion.
Price to Earnings (P/E) ratio was at 15.03.
The stock has a dividend yield of 1.34%.
The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry. This sector was up 0.3% at the end of the session.
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