BorgWarner Inc reported a higher-than-expected quarterly profit on Thursday, driven by revenue that surpassed Wall Street estimates in a recovering global auto market. The company posted first-quarter earnings of $1 per share, above the analysts' average estimate of 96 cents, according to Thomson Reuters I/B/E/S.
The auto parts supplier reported revenue of $1.73 billion, compared with analysts' expectations of $1.63 billion. BorgWarner reiterated its 2011 earnings forecast of $3.85 to $4.15 per share. Revenue is expected to be as much as 23 percent higher than in 2010. The company said it expected supply disruptions stemming from Japan to have a "limited" impact.