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BorgWarner Inc. (NYSE: BWA) is a global leader in innovative powertrain solutions aimed at improving fuel efficiency, reducing emissions, and enhancing performance for engines, transmissions, and driveline systems. With a commitment to creating a cleaner and more energy-efficient world, BorgWarner's product portfolio includes advanced technologies for both traditional and electric vehicles. The company operates through three key segments:
- Air Management: This division produces turbochargers, e-boosters, e-turbos, timing systems, emission systems, thermal systems, gasoline ignition technology, powertrain sensors, and cabin heaters.
- Drivetrain and Battery Systems: It includes automatic transmission components, torque management products, battery heaters, battery charging, and battery modules.
- e-Propulsion: Focused on e-motors, power electronics, and software and control modules.
Recent achievements for BorgWarner include securing a contract with a major Chinese OEM to supply its dual inverter with boost function for hybrid vehicles and starting eMotor rotor and stator production for XPeng Motors. The company also extended its contract to supply high voltage coolant heaters (HVCH) to a major global OEM for their battery-electric light-vehicle platforms.
Financially, BorgWarner reported net sales of $3,595 million for the first quarter of 2024, a 6% increase compared to the previous year. Net earnings were $213 million or $0.93 per diluted share. The company expects its 2024 net sales to be in the range of $14.4 billion to $14.9 billion with an operating margin of 8.2% to 8.5%.
Major customers include Ford and Volkswagen, contributing 14% and 11% of the 2023 revenue, respectively. Geographically, the revenue distribution for 2023 was 36% from Europe, 34% from Asia, and 29% from North America.
With over 130 years of experience, BorgWarner continues to be a transformative force in the automotive industry, driving the transition to eMobility and supporting environmentally friendly technologies. The company's forward-looking initiatives and strategic partnerships solidify its role as a key player in the global automotive market.
Latest News Highlights:
- BorgWarner secures a contract with a major Chinese OEM for dual inverters with boost function in hybrid vehicles.
- Begins eMotor rotor and stator production for XPeng Motors, set to supply the X9 MPV and new B-class sedan.
- Extends contract to supply high voltage coolant heaters (HVCH) for a global OEM's electric light-vehicle platforms.
- Reports first-quarter 2024 financial results with increased net sales and earnings, maintaining a positive outlook for the year.
BorgWarner has been named to Forbes' America's Best Employers 2025 list for the sixth consecutive time. The recognition comes from an independent survey conducted in collaboration with Statista, involving over 217,000 U.S. employees from companies with at least 1,000 employees.
The selection process evaluated more than 6.5 million employer assessments, considering both personal evaluations from employees and public feedback from industry professionals and family members, with greater weight given to personal evaluations.
Tania Wingfield, Chief Human Resources Officer at BorgWarner, emphasized the company's commitment to creating a workplace where employees feel valued and supported. The company's focus on nurturing talent, celebrating diversity, and encouraging innovation has contributed to its recognition as an industry leader in employee satisfaction.
BorgWarner has announced a strategic partnership with SAIC Maxus to supply two types of transfer cases for their export models. The products, which will be developed and manufactured in China, include an on-demand transfer case with mechanical locking and a high-torque part-time transfer case. Mass production is scheduled to begin in 2026.
The advanced transfer cases feature BorgWarner's HY-VO® driveline chain technology, designed to improve efficiency during high-speed operations. They support both 2 Wheel Drive High Range (2H) and AUTO modes, offering enhanced fuel efficiency on paved roads compared to full-time 4-wheel drive systems. The technology provides improved safety, handling, and drivability for on-demand 4WD vehicles, while the mechanical locking mode enhances off-road performance.
BorgWarner (BWA) has secured a supply agreement with a major East Asian OEM for its Variable Cam Timing (VCT) technology, to be used in the automaker's new hybrid and gasoline engines. Production is set to begin in Q1 2026.
The VCT technology optimizes intake and exhaust valve timing, improving combustion efficiency and reducing emissions. The system will be integrated into multiple next-generation engines, powering various hybrid and combustion vehicles. The technology is designed to meet Tier 4 North American emission standards while enhancing vehicle performance and fuel economy.
This agreement strengthens BorgWarner's relationship with the East Asian OEM, which dates back to 1986.
BorgWarner (BWA) has extended its contracts with a major North American OEM for wastegate turbocharger programs targeting midsized gasoline engines. The extension will continue through 2028 and beyond, supplying turbochargers for the automaker's midsized and large SUVs, and truck applications.
The wastegate turbo technology features electrically actuated wastegate actuators that enable precise boost level control, improving fuel efficiency and reducing emissions. The robust design focuses on lightweighting and durability while delivering quick boost response and powerful performance.
The partnership, spanning over 10 years, involves supplying one to two turbochargers per engine platform, depending on specifications. The turbochargers amplify engine output by generating more horsepower in a smaller, more compact package, with each unit optimized for specific performance requirements.
BorgWarner (NYSE: BWA) has announced its latest quarterly dividend declaration. The company's Board of Directors approved a quarterly cash dividend of $0.11 per share of common stock on February 5, 2025. The dividend will be payable on March 17, 2025, to stockholders of record as of March 3, 2025.
BorgWarner, a global product leader in mobility innovation for over 130 years, continues its commitment to shareholder returns while focusing on accelerating the world's transition to eMobility solutions.
BorgWarner (NYSE: BWA) reported Q4 and full-year 2024 results, showing Q4 net sales of $3,439 million, down 2.4% year-over-year, with an adjusted operating margin of 10.2%. The company recorded a Q4 net loss of $(1.84) per diluted share, including $646 million in goodwill and fixed asset impairment charges.
For full-year 2024, net sales were $14,086 million, down 0.8% from 2023, with adjusted net earnings of $4.32 per diluted share. The company generated $1,382 million in operating cash flow and $729 million in free cash flow.
Looking ahead to 2025, BorgWarner expects net sales between $13.4-14.0 billion, with organic sales growth ranging from -2% to +2%. The company forecasts adjusted operating margin of 10.0-10.2% and adjusted net earnings of $4.05-4.40 per diluted share, despite expecting weighted light and commercial vehicle markets to decline 1-3%.
BorgWarner has been named to Corporate Knights' 2025 Global 100 sustainability index for the first time, ranking 64th overall and 6th in the automotive sector as the only automotive supplier included. The assessment covered 8,359 publicly traded companies with over $1B in revenue, evaluated across 25 key performance indicators.
Key achievements include: 87% of 2023 revenue from EV and emissions-reducing products, 66% of R&D and 61% of capital expenditures dedicated to eProducts, and a 32% reduction in Scope 1 and 2 emissions compared to 2021. The company also reported that 64% of leadership positions were filled internally, exceeding their 50% goal, with improved voluntary turnover rates from 2022 to 2023.
BorgWarner has secured a position on Fortune magazine's 2025 World's Most Admired Companies list for the third consecutive year, ranking 5th in the 'motor vehicle parts' category among 321 selected companies. The company was one of eight automotive parts suppliers recognized on the prestigious list.
The selection process, conducted by Fortune in partnership with Korn Ferry, began with approximately 1,500 candidates, including the 1,000 largest U.S. companies by revenue and non-U.S. Fortune Global 500 companies with revenues exceeding $10 billion. This pool was narrowed to 650 companies across 30 countries based on revenue rankings within their industries.
Companies were evaluated on nine key attributes, including investment value, management quality, product quality, social responsibility, and talent attraction. The final rankings were determined through votes from industry executives, directors, and analysts, with companies required to rank in the top half of their industry survey to be listed.
BorgWarner presented the Championship Driver's Trophy (Baby Borg) to Josef Newgarden for his 2024 Indianapolis 500 victory at the Henry Ford Museum of American Innovation. This marks Newgarden's second Baby Borg trophy, while Team Penske owner Roger Penske received his 20th Championship Team Owner's Trophy.
The Baby Borg, a 20-inch miniature version of the Borg-Warner Trophy, features Newgarden's name, team name, average speed, and sterling silver likeness. Newgarden's win makes him the sixth driver in history to achieve back-to-back Indy 500 victories. He will attempt to make history in 2025 by pursuing a third consecutive win.
Penske's 20 victories as team owner span six decades, starting in 1972, with 14 different winning drivers. The original Borg-Warner Trophy, commissioned in 1936, now features 111 faces of Indy 500 winners, with Newgarden's likeness being added in December 2024.
BorgWarner has been named to Forbes' America's Best Employers for Engineers 2025 list, as announced on November 20th, 2024. The recognition, presented in collaboration with Statista, was based on an independent survey of over 28,000 U.S. employees across various industry sectors.
The evaluation process included both personal feedback from employees and public opinions from industry professionals and family members. Chief Human Resources Officer Tania Wingfield emphasized the company's commitment to fostering innovation and investing in employee development through programs like Power To Evolve and leadership training initiatives.
This recognition highlights BorgWarner's dedication to maintaining a workplace culture that values employee satisfaction, career growth, and competitive compensation for engineering professionals.
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