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BorgWarner misses 2nd-qtr profit estimate, lowers 2015 forecast
July 30, 2015 / 12:24 PM / in 2 years

BorgWarner misses 2nd-qtr profit estimate, lowers 2015 forecast

DETROIT, July 30 (Reuters) - Automotive supplier BorgWarner Inc missed Wall Street expectations of second-quarter profit and revenue due to the stronger dollar, the company said on Thursday.

The maker of fuel-saving turbochargers and emissions systems also lowered its 2015 forecast for net earnings to $2.95 to $3.10 per share, excluding non-comparable items, from $3.10 to $3.30 per share.

Net sales for the year compared with 2014 were forecast within a range of down 5.5 percent to down 2.5 percent from the previous down 4 percent to unchanged.

BorgWarner, based in Auburn Hills, Michigan, had earnings, excluding one-time items, of 75 cents per share, below expectations of 82 cents, according to Thomson Reuters I/B/E/S. (Reporting by Bernie Woodall; Editing by Jeffrey Benkoe)

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