BorgWarner lifts annual sales forecast on stronger foreign currency, tariff-driven recovery
May 7 (Reuters) - Auto parts supplier BorgWarner BWA.N 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.
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 plans to implement cost-saving measures to cushion a hit from the tariffs, while Dublin-based Aptiv's APTV.N 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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