Auto-parts maker narrows sales and earnings outlook for 2023
- BorgWarner narrows 2023 sales and earnings forecasts
- Expects weaker sales growth of electric-vehicle components
- Anticipates earnings between $2.65 and $2.81 a share for 2023
- Excluding one-off items, expects earnings between $3.60 and $3.80 a share
- 2023 sales forecasted between $14.1 billion and $14.3 billion
- Reduced 2023 eProduct sales estimate to $2.0 billion – $2.1 billion
BorgWarner, the auto-parts maker based in Auburn Hills, Michigan, has adjusted its 2023 sales and earnings forecasts. The company now expects weaker sales growth of electric-vehicle components compared to its previous targets. For 2023, BorgWarner forecasts earnings between $2.65 and $2.81 a share, and excluding one-off items, it anticipates earnings between $3.60 and $3.80 a share. The sales forecast for 2023 is in the range of $14.1 billion to $14.3 billion, with some impact from foreign-currency exchange due to movements in the Renminbi. Additionally, BorgWarner has reduced its 2023 eProduct sales estimate to a range between $2.0 billion and $2.1 billion from its previous estimate of $2.3 billion to $2.4 billion.
Factuality Level: 8
Factuality Justification: The article provides specific information about BorgWarner’s narrowed sales and earnings forecasts for 2023. It includes details about the anticipated earnings per share and sales range, as well as the factors contributing to the adjustments. The information appears to be based on the company’s official statements and estimates.
Noise Level: 7
Noise Justification: The article provides specific information about BorgWarner’s narrowed sales and earnings forecasts for 2023. It mentions the reasons for the revised estimates, including less robust sales growth of electric-vehicle components and foreign-currency exchange. However, it lacks in-depth analysis or exploration of the consequences of these forecasts on the company or the industry. The article stays on topic and provides some data and examples to support its claims, but it does not offer actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to BorgWarner, an auto-parts maker. The company’s narrowed sales and earnings forecasts for 2023 may impact the financial markets and investors interested in the automotive industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article does not mention any extreme events or their impact.
Public Companies: BorgWarner (BWA)
Key People:
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