BorgWarner Reports Second Quarter 2021 U S GAAP Net Earnings of $1 03 Per Diluted Share, or $1 08 Per Diluted Share Excluding Non-Comparable Items prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
BorgWarner Reports Record Net Sales For The First Quarter 2021, Up 76% Compared With First Quarter 2020
News provided by
Share this article
Share this article
First Quarter Highlights:
U.S. GAAP net sales of $4,009 million, up 76% compared with first quarter 2020.
Excluding the impact of foreign currencies and the net impact of acquisitions and divestitures, organic sales were up 18% compared with first quarter 2020.
U.S. GAAP net earnings of $0.27 per diluted share.
Excluding the $(0.94) per diluted share related to non-comparable items (detailed in the table below), adjusted net earnings were $1.21 per diluted share.
U.S. GAAP operating income of $403 million, or 10.1% of net sales.
0.77
Net sales were $4,009 million for the first quarter 2021, up 76% from $2,279 million for the first quarter 2020, due to the acquisition of Delphi Technologies, increased demand for the Company s products and the recovery of global markets from the negative effects of COVID-19 on 2020 production. Net earnings for the first quarter 2021 were $65 million, or $0.27 per diluted share, compared with net earnings of $129 million, or $0.63 per diluted share, for the first quarter 2020. Adjusted net earnings per diluted share for the first quarter 2021 were $1.21, up from adjusted net earnings per diluted share of $0.77 for the first quarter 2020. Adjusted net earnings for the first quarter 2021 excluded net non-comparable items of $(0.94) per diluted share. Adjusted net earnings for the first quarter 2020 excluded net non-comparable items of $(0.14) per diluted share. These items are listed in the table above, which is provided by the Company for comparison with other results and the