BorgWarner On Track To Achieve More Than $3.3 Bln Of Electric Vehicle Revenue By 2025

(RTTNews) - While issuing fourth-quarter results on Tuesday, BorgWarner Inc. (BWA) said its 2022 electric vehicle revenue is expected to grow to more than $800 million, which is more than double what it was in 2021. The company believes it is already on track to achieve more than $3.3 billion of electric vehicle revenue by 2025.

For full year 2022, the company expects net earnings to be within a range of $3.71 to $4.19 per share. Excluding the impact of non-comparable items, adjusted net earnings are expected to be within a range of $4.15 to $4.60 per share. Net sales are expected to be in the range of $15.9 billion to $16.5 billion, a year-over-year organic increase in sales of 10% to 14%.

Analysts polled by Thomson Reuters expect the company to report fiscal 2022 profit per share of $4.65 on revenue of $16.47 billion. Analysts' estimates typically exclude special items.

Fourth quarter adjusted earnings were $255 million or $1.06 per share. Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. The company's revenue for the quarter fell 6.9% to $3.66 billion from $3.93 billion last year.

Shares of BorgWarner were down 1% in pre-market trade on Tuesday.