BorgWarner’s net income nearly quadrupled year-over-year (y/y) to $439.9 million in the financial year ended December 31, 2017, the US-based powertrain components supplier has said.
The company had reported $118.5 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 $9.8 billion. Net sales, excluding impact of foreign currencies and the net impact of merger and acquisition (M&A), were up 10.3% y/y.
The supplier has said that it expects its full-year 2018 net sales to be in the range of $10.52 billion to $10.69 billion.