May 7 (Reuters) - Auto parts supplier BorgWarner BWA.N on Wednesday raised its annual sales outlook, citing expectation of stronger foreign exchange and tariff-fueled customer recoveries.
Shares of the company rose about 3% in premarket trade.
U.S. President Donald Trump's vacillating tariff policy has disrupted companies across sectors, particularly in the import-heavy auto industry.
Industry peer Magna MG.TO plans to implement cost-saving measures to cushion a hit from the tariffs, while Dublin-based Aptiv's APTV.N forecast second-quarter profit above estimates.
BorgWarner now expects annual net sales to be in the range of $13.6 billion to $14.2 billion, compared to its prior expectation of between $13.4 billion and $14.0 billion.
The company said it expects stronger foreign currencies to lead to an increase in sales of $250 million compared to its prior forecast.
On an adjusted basis, BorgWarner earned $1.11 per share in the first quarter ended March 31, compared with analysts' estimates of 98 cents per share, according to data compiled by LSEG.
Overall quarterly sales fell about 2% to $3.5 billion from a year earlier, but outperformed estimates of $3.4 billion.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber)
((Nathan.Gomes@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.