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The Michigan-based firm like other auto companies has been grappling with a shortage of certain raw materials and higher costs to procure them.
Supply headwinds, which began during the height of the pandemic, threaten to hurt demand for auto parts and comes at a time when carmakers are ramping up production.
BorgWarner – whose clients include Volkswagen (ETR:VOWG_p), General Motors (NYSE:GM) and Ford – expects 2023 net sales between $17.1 billion and $17.9 billion, compared with Refinitiv estimates of $17.23 billion.
On an adjusted basis, the company earned $1.09 per share in the first quarter, compared with estimates of $1.11.
