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BorgWarner Q2 profit climbs 5.3% YOY

BorgWarner Inc. said its normalized net income for the second quarter amounted to 84 cents per share, compared with the S&P Capital IQ consensus estimate of 89 cents per share.

EPS climbed 7.9% year over year from 77 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $176.7 million, a gain of 5.3% from $167.8 million in the year-earlier period.

The normalized profit margin increased to 7.4% from 7.2% in the year-earlier period.

Total revenue increased year over year to $2.39 billion from $2.33 billion, and total operating expenses climbed from the prior-year period to $2.09 billion from $2.03 billion.

Reported net income rose 28.4% on an annual basis to $211.5 million, or $1 per share, from $164.7 million, or 76 cents per share.