BorgWarner’s 2017 net income nearly quadruples y/y to USD439.9 million

Company expects full-year 2018 net sales to be in the range of USD10.52 billion to USD10.69 billion

BorgWarner’s net income nearly quadrupled year-over-year (y/y) to USD439.9 million in the financial year ended 31 December 2017, the US-based powertrain components supplier said in a press release on 8 February. The company had reported USD118.5 million net income in the previous year. The company recorded strong growth in net income driven by 8% y/y increase in net sales to USD9.8 billion. Net sales, excluding impact of foreign currencies and the net impact of merger and acquisition (M&A), were up 10.3% y/y.