BorgWarner lifts annual sales forecast on stronger foreign currency, tariff-driven recovery
May 7 (Reuters) - Auto parts supplier BorgWarner (BWA.N), opens new tab on Wednesday raised its annual sales outlook, citing expectation of stronger foreign exchange and tariff-fueled customer recoveries.
Shares of the company rose about 3% in premarket trade.
The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.
U.S. President Donald Trump's vacillating tariff policy has disrupted companies across sectors, particularly in the import-heavy auto industry.
Industry peer Magna (MG.TO), opens new tab plans to implement cost-saving measures to cushion a hit from the tariffs, while Dublin-based Aptiv 's forecast second-quarter profit above estimates.
BorgWarner now expects annual net sales to be in the range of $13.6 billion to $14.2 billion, compared to its prior expectation of between $13.4 billion and $14.0 billion.
The company said it expects stronger foreign currencies to lead to an increase in sales of $250 million compared to its prior forecast.
On an adjusted basis, BorgWarner earned $1.11 per share in the first quarter ended March 31, compared with analysts' estimates of 98 cents per share, according to data compiled by LSEG.
Overall quarterly sales fell about 2% to $3.5 billion from a year earlier, but outperformed estimates of $3.4 billion.
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