BorgWarner Inc. (NYSE: BWA) today reported first quarter results. First Quarter Highlights:
• U.S. GAAP net sales of $2,407 million, up 6.1% compared with first quarter 2016. ◦ On a comparable basis, excluding the impact of foreign currencies and the sale of the Remy light vehicle aftermarket business, net sales were up 12.8% compared with first quarter 2016.
• U.S. GAAP net earnings of $0.89 per diluted share. ◦ Excluding the $(0.02) per diluted share related to non-comparable item (detailed in the table below), net earnings were $0.91 per diluted share.
• U.S. GAAP operating income of $293 million.◦ Operating income was 12.2% of net sales.
