BorgWarner reports second quarter financial results, exceeding Wall Street expectations

Auto parts supplier BorgWarner released its second-quarter financial report on July 31. Thanks to continued market demand, the company's profits exceeded Wall Street's expectations and raised its full-year profit forecast. The report showed that BorgWarner's net sales in the second quarter were US$3.603 billion, down 2% year-on-year; operating profit was US$297 million, with an operating profit margin of 8.2%. Adjusted operating profit was US$376 million, accounting for 10.4% of net sales. Net profit was US$315 million, up 38.2% year-on-year.