BorgWarner Q2 Earnings Exceed Expectations, Revises FY23 Outlook
Portfolio Pulse from Lekha Gupta
BorgWarner Inc (NYSE:BWA) reported Q2 FY23 sales growth of 20% Y/Y to $4.52 billion, exceeding the consensus of $4.39 billion. The company's revenue benefited from higher demand for products and recoveries from its customers of material cost inflation. BorgWarner also revised its FY23 sales outlook to $14.2 billion-$14.6 billion. Despite the positive earnings report, BWA shares are trading lower by 2.40% at $45.35.
August 04, 2023 | 11:22 am
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BorgWarner reported strong Q2 FY23 results, beating consensus estimates. However, its stock price fell by 2.40% despite the positive earnings report.
BorgWarner reported strong Q2 FY23 results, with sales growth of 20% Y/Y and beating consensus estimates. The company also revised its FY23 sales outlook upwards. However, despite the positive earnings report, the company's stock price fell by 2.40%. This suggests that the market had already priced in the positive earnings and was expecting even better results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100