BorgWarner Cuts FY24 Sales Guidance From $14.4B-$14.9B To $14.1B-$14.4B vs $14.73B Est.; Updates FY24 Adj. EPS Guidance From $3.80-$4.15 To $3.95-$4.15 vs $4.07 Est.
Portfolio Pulse from Benzinga Newsdesk
BorgWarner has revised its FY24 sales guidance downwards from $14.4B-$14.9B to $14.1B-$14.4B, compared to the $14.73B estimate. The company also updated its FY24 adjusted EPS guidance from $3.80-$4.15 to $3.95-$4.15, against the $4.07 estimate.
July 31, 2024 | 10:34 am
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BorgWarner has lowered its FY24 sales guidance and updated its adjusted EPS guidance. The revised sales guidance is now $14.1B-$14.4B, down from $14.4B-$14.9B, and the adjusted EPS guidance is now $3.95-$4.15, up from $3.80-$4.15.
The downward revision in sales guidance is likely to negatively impact investor sentiment, leading to a potential short-term decline in BorgWarner's stock price. However, the slight increase in the lower end of the adjusted EPS guidance may provide some support.
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