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7 months ago
BRIEF-Borgwarner projects 5 pct to 7 pct growth from net new business backlog over the next 3 years
January 11, 2017 / 11:54 AM / 7 months ago

BRIEF-Borgwarner projects 5 pct to 7 pct growth from net new business backlog over the next 3 years

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Jan 11 (Reuters) - Borgwarner Inc

* Borgwarner projects 5 pct to 7 pct growth from net new business backlog over the next three years

* Sees net new business within a range of $410 million to $590 million in 2017, $460 million to $670 million in 2018

* Sees 2017 net sales of $8.81 billion - $9.04 billion

* Sees 2017 net earnings of $3.35 to $3.45 per diluted share

* Sees Q1 organic net sales growth of 2.5 pct to 6.5 pct

* Excluding impact of weaker foreign currencies and Remy Light Vehicle aftermarket sale, net sales growth to be 2.5 pct to 6.5 pct for Q1 2017

* Sees Q1 2017 earnings per share $0.81 to $0.85

* Says higher corporate expenses, raw material timing and other costs are expected to impact Q1 EPS by $0.04

* Sale of Remy Light Vehicle aftermarket business is expected to lower sales by about $235 million in 2017

* Q1 earnings per share view $0.86, revenue view $2.28 billion -- Thomson Reuters I/B/E/S

* FY2017 earnings per share view $3.52, revenue view $9.30 billion -- Thomson Reuters I/B/E/S

* Sees share repurchases of $100 million for full year 2017 Source text for Eikon: Further company coverage:

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