BorgWarner Inc. BWA reported adjusted earnings of $1.06 per share for fourth-quarter 2021, declining from $1.18 recorded in the prior-year period. The bottom line, however, beat the Zacks Consensus Estimate of 74 cents per share. Higher-than-anticipated revenues across all segments resulted in the outperformance. The automotive equipment supplier reported net sales of $3,655 million, outpacing the Zacks Consensus Estimate of $3,462 million. The top-line figure, however, declined 6.9% year over year.Along with its earnings release, BorgWarner announced that it has inked a deal to acquire Santroll's light vehicle eMotor business for up to ¥1.4 billion. The buyout would bolster BorgWarner's scale and position in electric propulsion systems. Subject to satisfactory closing conditions, the deal is scheduled for closure by March-end.BorgWarner Inc. Price, Consensus and EPS Surprise BorgWarner Inc. price-consensus-eps-surprise-chart | BorgWarner Inc. QuoteSegmental PerformanceAir Management: Net sales totaled $1,762 million for the reported quarter compared with $1,942 million registered in the year-ago period. The sales figure, however, topped the Zacks Consensus Estimate of $1,710 million. Adjusted EBIT of $257 million declined from $301 million recorded in fourth-quarter 2020.e-Propulsion & Drivetrain: Sales from the segment came in at $1,352 million, down from $1,447 million in fourth-quarter 2020. The sales figure, however, came ahead of the Zacks Consensus Estimate of $1,257 million. The segment generated an adjusted EBIT of $132 million for fourth-quarter 2021 compared with $164 million recorded in the corresponding period of 2020.Fuel Injection: Sales from the segment totaled $451 million, down from $479 million generated in the comparable year-ago period. The metric, however, surpassed the consensus estimate of $413 million. The segment generated an adjusted EBIT of $62 million, up from $39 million recorded in the corresponding period of 2020.Aftermarket: Sales from the segment totaled $203 million, up 4.6% year over year. The figure outpaced the Zacks Consensus Estimate of $188 million. The segment generated an adjusted EBIT of $25 million, up from $22 million recorded in the corresponding period of 2020.Financial PositionAs of Dec 31, 2021, BorgWarner had $1,841 million in cash compared with $1,650 million on Dec 31, 2020. For the December-end quarter, long-term debt was $4,261 million, up from $3,738 million recorded on Dec 31, 2020.Net cash provided by operating activities was $1,306 million for 2021. Capital expenditure and FCF totaled $666 million and $640 million, respectively.2022 ProjectionsFor full-year 2022, the Zacks Rank #3 (Hold) company anticipates net sales within $15.9-$16.5 billion, indicating an increase from $14.8 billion recorded in 2021. Importantly, BorgWarner envisions electric vehicle revenues of more than $800 million in 2022, doubling from 2021 levels.Adjusted operating margin and net earnings are expected in the band of 10.2-10.7% and $3.71-$4.19, respectively. Free cash flow is projected in the band of $700-$800 million.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Peer ReleasesBelow we have highlighted major takeaways from the latest quarterly releases of a few other auto equipment providers including Magna International MGA, Adient plc ADNT and Autoliv, Inc. ALV.Magna reported fourth-quarter 2021 adjusted earnings of $1.30 per share, declining 54% from $2.83 in the year-ago quarter. The bottom line, however, topped the Zacks Consensus Estimate of 83 cents per share. For the reported quarter, net sales declined 13.8% from the prior-year period to $9,110 million but topped the consensus mark of $8,940.8 million.Magna expects full-year 2022 revenues in the band of $38.8-$40.4 billion. Adjusted EBIT margin is anticipated to be 6-6.4%. The company envisions capital spending of $1.8 billion in 2022.Adient reported an adjusted loss per share of 38 cents for first-quarter fiscal 2022. The Zacks Consensus Estimate was pegged at earnings of 8 cents per share. The bottom line also compared unfavorably with the year-ago earnings of $1.71 per share. Net sales of $3,480 million were down from $3,848 million recorded in the prior-year period. The top line, however, surpassed the Zacks Consensus Estimate of $3,381.5 million.ADNT envisions 2022 revenues of $14.8 billion and capital expenditure of $300-$325 million. Expected equity income has been increased to $90 million for fiscal 2022 from the prior estimation of $80-$90 million.Autoliv reported fourth-quarter 2021 adjusted earnings of $1.30 per share, on par with the Zacks Consensus Estimate. The bottom line fell 40.6% from $2.19 per share recorded in the year-ago quarter. The company reported net sales of $2,119 million for the quarter, which missed the Zacks Consensus Estimate of $2,249.7 million. The top line also declined 15.8% from the prior-year’s $2,516.8 million. Given IHS Markit’s forecast of 9% growth in light vehicle production along with ALV’s positive regional mix and product launches, the company expects sales to grow organically by 20% in 2022, with adjusted operating margin expectation of 9.5% for full-year 2022. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Autoliv, Inc. (ALV): Free Stock Analysis Report BorgWarner Inc. (BWA): Free Stock Analysis Report Magna International Inc. (MGA): Free Stock Analysis Report Adient (ADNT): Free Stock Analysis Report To read this article on Zacks.com click here. 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