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BorgWarner Q1 profit climbs 9.3% YOY

BorgWarner Inc. said its normalized net income for the first quarter was 81 cents per share, compared with the S&P Capital IQ consensus estimate of 84 cents per share.

EPS climbed 12.3% year over year from 72 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $171.6 million, an increase of 9.3% from $157.0 million in the year-earlier period.

The normalized profit margin climbed to 7.1% from 6.9% in the year-earlier period.

Total revenue climbed 6.1% year over year to $2.41 billion from $2.27 billion, and total operating expenses increased 5.9% on an annual basis to $2.11 billion from $1.99 billion.

Reported net income rose 15.5% from the prior-year period to $188.9 million, or 89 cents per share, from $163.6 million, or 75 cents per share.