{"id":34121,"date":"2023-05-04T12:07:59","date_gmt":"2023-05-04T12:07:59","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/borgwarner-sees-annual-sales\/"},"modified":"2023-05-04T12:08:39","modified_gmt":"2023-05-04T12:08:39","slug":"borgwarner-sees-annual-sales","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/borgwarner-sees-annual-sales\/","title":{"rendered":"BorgWarner sees annual sales below estimates on supply snags, higher costs"},"content":{"rendered":"

(Reuters) – BorgWarner Inc on Thursday forecast full-year sales below analysts’ estimates as supply chain issues continued to weigh on the auto supplier, sending the company’s shares down nearly 2% in premarket trading.<\/p>\n

The Michigan-based firm like other auto companies has been grappling with a shortage of certain raw materials and higher costs to procure them.<\/p>\n

Supply headwinds, which began during the height of the pandemic, threaten to hurt demand for auto parts and comes at a time when carmakers are ramping up production.<\/p>\n

BorgWarner – whose clients include Volkswagen, General Motors and Ford – expects 2023 net sales between $17.1 billion and $17.9 billion, compared with Refinitiv estimates of $17.23 billion.<\/p>\n

On an adjusted basis, the company earned $1.09 per share in the first quarter, compared with estimates of $1.11.<\/p>\n

\n

(Reporting by Raechel Thankam Job and Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar and Shounak Dasgupta)<\/p>\n

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(Reuters) – BorgWarner Inc on Thursday forecast full-year sales below analysts’ estimates as supply chain issues continued to weigh on the auto supplier, sending the company’s shares down nearly 2% in premarket trading. The Michigan-based firm like other auto companies has been grappling with a shortage of certain raw materials and higher costs to procure […]<\/p>\n","protected":false},"author":8,"featured_media":34122,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-34121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430H2-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=34121"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34121\/revisions"}],"predecessor-version":[{"id":34123,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34121\/revisions\/34123"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/34122"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=34121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=34121"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=34121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}