AUBURN HILLS, Mich. (AP) — AUBURN HILLS, Mich. (AP) — BorgWarner Inc. (BWA) on Wednesday reported a loss of $262 million in its fourth quarter.
The Auburn Hills, Michigan-based company said it had a loss of $1.23 per share. Earnings, adjusted for non-recurring costs, were $1.35 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.
The auto parts supplier posted revenue of $3.57 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $3.51 billion.
For the year, the company reported profit of $277 million, or $1.28 per share. Revenue was reported as $14.32 billion.
BorgWarner expects full-year earnings in the range of $5 to $5.20 per share, with revenue in the range of $14 billion to $14.3 billion.
BorgWarner shares have climbed 20% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 1%. The stock has increased 84% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BWA at https://www.zacks.com/ap/BWA