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BorgWarner Q3 profit climbs 15.9% YOY

BorgWarner Inc. said its third-quarter normalized net income was 82 cents per share, compared with the S&P Capital IQ consensus estimate of 88 cents per share.

EPS climbed 17.5% year over year from 70 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $173.9 million, an increase of 15.9% from $149.9 million in the prior-year period.

The normalized profit margin climbed to 7.2% from 6.8% in the year-earlier period.

Total revenue rose 9.1% year over year to $2.42 billion from $2.21 billion, and total operating expenses grew 8.7% year over year to $2.12 billion from $1.95 billion.

Reported net income increased 122.7% on an annual basis to $185.7 million, or 88 cents per share, from $83.4 million, or 39 cents per share.