BorgWarner Inc. Reaffirms Earnings Guidance for the Full Year of 2014; Revised Earnings Guidance for the Full Year 2015
For the full year of 2015, the company expects net sales growth of 2% to 6% compared with updated 2014 guidance. Excluding the impact of weaker foreign currencies, net sales growth is expected to be 9.5% to 12%. Net earnings of $3.35 to $3.55 per diluted share. Excluding the impact of weaker foreign currencies, net earnings are expected to be $3.60 to $3.75 per diluted share, up 11% to 14% compared with 2014 net earnings guidance of $3.23 to $3.28 per diluted share, excluding non-recurring items. Operating income as a percentage of net sales above 13%. Effective tax rate of 29%. Free cash flow within a range of $350 million to $400 million.