Welcome to our dedicated page for BorgWarner news (Ticker: BWA), a resource for investors and traders seeking the latest updates and insights on BorgWarner stock.
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 secured contracts to supply dual inverters for hybrid and plug-in hybrid vehicles from two leading Chinese OEMs, greatly enhancing its position in China's mobility market. The dual inverters will be employed in GWM's LEMON platform and by another major OEM in their HEV and PHEV models. This project marks a significant milestone for BorgWarner and GWM, showcasing advanced technologies that promise improved fuel efficiency and performance. Production is already underway for GWM's models, indicating a strong demand for electrification solutions in the region.
BorgWarner reported strong second-quarter results for 2021, with U.S. GAAP net sales of $3.76 billion, a 164% increase year-over-year. Adjusted net earnings per diluted share rose to $1.08, up significantly from a loss of $(0.14) in Q2 2020. The acquisition of Delphi Technologies and global market recovery contributed to this growth. The company projects full-year net sales between $15.2 billion and $15.6 billion, anticipating a year-over-year organic sales increase of 14% to 17%.
BorgWarner has partnered with ZEEKR, part of Geely Holding Group, to supply its High-voltage Coolant Heater (HVCH) for the ZEEKR 001 electric sedan. This technology enhances battery energy performance by maintaining optimal temperature, leading to improved driving range and passenger comfort. The HVCH is designed for high performance with a power range of 3 to 10 kW and is set to begin production in the second half of 2021, reinforcing BorgWarner's position in the growing EV market.
BorgWarner has declared a quarterly cash dividend of $0.17 per share, scheduled for payment on September 15, 2021. This dividend will benefit stockholders of record as of September 1, 2021. With a strong presence in sustainable mobility solutions, the company continues to leverage its expertise in the vehicle market and aftermarket services, employing around 50,000 staff across 96 locations in 23 countries.
BorgWarner Inc. (NYSE: BWA) will host its 2021 Second Quarter Results Conference Call on August 4, 2021, at 9:00 AM Eastern Time. The event will be available live via the internet, and interested participants can access it through the company's investor relations page. In case of inability to attend, an archive of the call will be available later. BorgWarner is recognized as a global leader in providing innovative and sustainable mobility solutions, employing approximately 50,000 people across 99 locations in 24 countries.
BorgWarner Inc. (NYSE: BWA) has scheduled its 2021 Second Quarter Results Conference Call for August 4, 2021 at 9:30 AM Eastern Time. The live webcast can be accessed via the company’s investor website. This call will provide insights into the company’s financial performance and strategic direction. For those unable to attend, the call will be archived on the same site. BorgWarner is recognized for its innovative mobility solutions, operating in 99 locations across 24 countries with around 50,000 employees.
BorgWarner Inc. (NYSE: BWA) has completed a tender offer for shares of AKASOL AG, securing 89.08% ownership. This acquisition enhances BorgWarner's strategic position in the electric vehicle market, particularly in battery pack solutions. The company paid €648 million from current cash balances to complete the acquisition, aiming for significant revenue growth as part of its Project Charging Forward, which targets electric vehicle revenues to reach 45% by 2030. AKASOL will operate independently but will integrate into BorgWarner’s Air Management reporting segment.
BorgWarner's integrated drive module (iDM) has been selected by the Hyundai Motor Group for their upcoming A-segment electric vehicles, with production set to begin in mid-2023. This collaboration highlights a two-decade partnership and marks their first electrification project together. The iDM146 system, designed for high-performance, operates at 400V and delivers peak power of 135 kW. It integrates a gearbox, silicon inverter, and motor to enhance efficiency and reduce footprint. This development reflects BorgWarner's commitment to sustainable mobility solutions.
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