Sees FY23 revenue $16.7B-$17.5B, consensus $16.82B. The company said, "The Company has provided 2023 full year guidance. Net sales are expected to be in the range of $16.7 billion to $17.5 billion, compared with 2022 sales of $15.8 billion. This implies a year-over-year organic increase in sales of 7% to 12%. The Company expects its weighted light and commercial vehicle markets to increase in the range of approximately 0% to 3% in 2023. Foreign currencies are expected to result in a year-over-year decrease in sales of approximately $285 million, primarily due to the weakening of the Euro, Chinese Renminbi and Korean Won against the U.S. dollar. Operating margin is expected to be in the range of 8.6% to 9.0%. Excluding the impact of non-comparable items and the add back of intangible asset amortization expense, adjusted operating margin is expected to be in the range of 10.0% to 10.4%. Net earnings are expected to be within a range of $3.81 to $4.13 per diluted share. Excluding the impact of non-comparable items, adjusted net earnings are expected to be within a range of $4.50 to $5.00 per diluted share. Full-year operating cash flow is expected to be in the range of $1,400 million to $1,550 million, while free cash flow is expected to be in the range of $550 million to $650 million, which includes estimated one-time cash costs of $150 million associated with the planned separation of Fuel Systems and Aftermarket businesses."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on BWA:
- BorgWarner Reports Full Year 2022 Results Ahead of Guidance, Expects 2023 Electric Vehicle Sales of $1.5 Billion to $1.8 Billion
- BORGWARNER DECLARES QUARTERLY DIVIDEND
- Notable companies reporting before tomorrow’s open
- BorgWarner price target raised to $53 from $45 at Deutsche Bank
- BorgWarner price target raised to $46 from $44 at Citi