Stock Monitor: UQM Technologies Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 01, 2017 / Active-Investors free earnings report on BorgWarner Inc. (NYSE: BWA) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=BWA. BorgWarner reported its third quarter fiscal 2017 operating results on October 26, 2017. The auto parts supplier outperformed top- and bottom-line expectations and also raised its organic growth guidance. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.comis currently working on the research report for UQM Technologies, Inc. (NYSE AMER: UQM), which also belongs to the Consumer Goods sector as the Company BorgWarner. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, BorgWarner most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=BWA

Earnings Highlights and Summary

BorgWarner's net sales grew 9.1% in Q3 2017 to $2.42 billion compared to $2.21 billion in Q3 2016. The impact of the sale of the Remy light vehicle aftermarket business decreased net sales by $68 million in the reported quarter on a y-o-y basis. Excluding the impact of foreign currencies and the sale of the Remy light vehicle aftermarket business, BorgWarner's net sales advanced 10.8% on a y-o-y basis, and came in ahead of analysts' expectations of $2.24 billion.

For Q3 2017, BorgWarner's net earnings were $185 million, or $0.88 per diluted share, compared to $83 million, or $0.39 per diluted share, in Q3 2016. The Company's reported quarter net earnings included non-comparable items of negative $0.08 per diluted share, while net earnings in the year-earlier quarter included net non-comparable items of negative $0.39 per diluted share.

In the reported quarter, the Company's non-GAAP earnings totaled $0.95 per share versus $0.78 per share in the year-earlier same quarter and also came in ahead of Wall Street's estimates of $0.87 per share.

BorgWarner's Segment Results

During Q3 2017, the Engine segment's net sales were $1.51 billion, up 11% compared to $1.36 billion in Q3 2016. Excluding the impact of foreign currencies, the Company's net sales grew 8.7% on a y-o-y basis. The segment's adjusted earnings before interest, income taxes and non-controlling interest ("Adjusted EBIT") were $238.5 million in the reported quarter versus $221.5 million in the year-ago same period. Excluding the impact of foreign currencies, Engine segment's adjusted EBIT was $237 million, up 7.1% on a y-o-y basis.

For Q3 2017, the Drivetrain segment recorded net sales of $922 million, gaining 6% versus $866 million in Q3 2016. Excluding the impact of foreign currencies and the sale of the Remy light vehicle aftermarket business, the segment's net sales jumped 14.4% on a y-o-y basis. Drivetrain division's adjusted EBIT was $112 million in the reported quarter compared to $89 million in the prior year's corresponding quarter. Excluding the impact of foreign currencies, the segment's adjusted EBIT was $111 million, up 24.6% on a y-o-y basis.

Emissions Business Restructuring:

During Q3 2017, BorgWarner incurred restructuring expense of $12.6 million, primarily due to the initiation of actions within its emissions business in the Engine segment. The largest portion of the anticipated restructuring expenses was related to footprint rationalization in product lines that the Company has determined are non-core. BorgWarner is planning to explore strategic options for these product lines.

Cash Matters

BorgWarner's net cash provided by operating activities was $624 million in the first nine months of 2017 compared to $593 million in the first nine months of 2016. The Company's investments in capital expenditures totaled $390 million in the first nine months of 2017 compared to $355 million in the first nine months of 2016.

BorgWarner's net debt to net capital ratio was 33.6% at the end of Q3 2017 compared to 35.0% at the end of Q3 2016.

Outlook

BorgWarner increased its 2017 full year organic growth guidance. The Company's FY17 net sales are expected to be in the range of $9.67 billion to $9.70 billion, implying organic net sales growth of 9.0% to 9.5%. The Company is forecasting net earnings to be within a range of $3.81 to $3.83 per diluted share, with increase in guidance primarily due to higher than previously expected sales.

For Q4 2017, BorgWarner is projecting organic net sales growth of 5.0% to 6.5% compared to Q4 2016 pro-forma net sales of $2.24 billion. The Company is estimating net earnings to be within a range of $0.99 to $1.01 per diluted share.

Stock Performance Snapshot

November 30, 2017 - At Thursday's closing bell, BorgWarner's stock climbed 1.49%, ending the trading session at $55.68.

Volume traded for the day: 2.00 million shares, which was above the 3-month average volume of 1.51 million shares.

Stock performance in the last month ? up 5.61%; previous three-month period ? up 19.97%; past twelve-month period ? up 56.40%; and year-to-date ? up 41.18%

After yesterday's close, BorgWarner's market cap was at $11.74 billion.

Price to Earnings (P/E) ratio was at 40.26.

The stock has a dividend yield of 1.22%.

The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry. This sector was up 0.3% at the end of the session.

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