Why Automotive Supplier BorgWarner's Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
BorgWarner Inc's shares fell by around 11% after reporting Q3 FY23 earnings. Sales grew 12% Y/Y to $3.62 billion, missing the consensus of $3.67 billion. The company lowered the FY23 sales outlook to $14.1 billion - $14.3 billion from $14.2 billion-$14.6 billion. Adjusted EPS of $0.98 beat the analyst consensus of $0.94. The acquisitions of Santroll’s light vehicle eMotor business, Rhombus Energy Solutions, Drivetek, and SSE are expected to increase year-over-year sales by around $63 million.
November 02, 2023 | 2:27 pm
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NEGATIVE IMPACT
BorgWarner's shares fell after missing sales consensus and lowering FY23 sales outlook, despite beating EPS consensus and expecting increased sales from acquisitions.
BorgWarner's shares fell due to the company missing sales consensus and lowering its FY23 sales outlook. However, the company beat the EPS consensus and expects increased sales from recent acquisitions, which could potentially offset the negative impact in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100