(RTTNews) - BorgWarner Inc. (BWA) said it expects net earnings for first quarter 2017 to be in the range of $0.81 to $0.85 per share, and organic net sales growth of 2.5% to 6.5% compared with first quarter 2016 net sales of $2.27 billion. Excluding the impact of weaker foreign currencies and the Remy light vehicle aftermarket sale, net sales growth is expected to be 2.5% to 6.5%. Analysts polled by Thomson Reuters expect the company to report earnings of $0.86 per share for the first-quarter. Analysts' estimates typically exclude special items.
For fiscal year 2017, the company anticipates net earnings of $3.35 to $3.45 per share. Foreign currencies are expected to lower net earnings by $0.13. Excluding this impact, guidance implies a 7% to 10% on a constant currency basis. It projects net sales of $8.81 billion - $9.04 billion, implying organic sales growth of 3.5% to 6.0% compared with expected 2016 net sales of ~$9.05 billion. Excluding the impact of weaker foreign currencies and the Remy light vehicle aftermarket sale, net sales growth is expected to be 3.5% to 6.0%. It expects to repurchase $100 million of its shares. Analysts expect annual earnings of $3.52 per share.
The company expects its net new business backlog to drive a compound annual organic growth rate of 5.0% - 7.0% from 2016 through 2019. Net new business is expected to be within a range of $410 million to $590 million in 2017, $460 million to $670 million in 2018 and $500 million to $700 million in 2019.