BorgWarner beats second-quarter profit, sales on powertrain demand
BWA•Second-quarter results beat estimates
Aug. 5 (Reuters) - BorgWarner topped analysts' estimates for second-quarter profit and sales on Wednesday as the auto parts supplier benefited from steady demand for powertrain systems and turbochargers.
Its shares rose 2.3% in premarket trading.
On an adjusted basis, BorgWarner earned quarterly profit per share of $1.42, topping estimates of $1.28, according to data compiled by LSEG.
Its second-quarter net sales rose marginally to $3.65 billion from last year. Analysts on average expected the company to report quarterly net sales of $3.56 billion.
Powertrain demand stays strong as BorgWarner raises R&D plans
Demand for powertrain systems and turbos has remained strong from automakers producing more efficient gas-powered engines.
BorgWarner also said it planned to increase its annual R&D spend to help with its lineup catered to data centers.
The Michigan-based company, best known for its turbochargers, currently offers a suite of power storage systems to help run data centers.
