BorgWarner Clocks 7% Sales Decline In Q4; Issues FY22 Outlook
BorgWarner Inc (NYSE:BWA) reported a fourth-quarter FY21 sales decline of 6.9% year-on-year, to $3.65 billion, beating the analyst consensus of $3.47 billion. Net sales from the Air Management segment declined 9.2% Y/Y, and the e-Propulsion & Drivetrain segment lost 6.6%. Gross profit fell 19% to $625 million, and gross margin contracted 260 basis…
Benzinga ·
Benzinga
