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 Inc. (NYSE: BWA) announced the full redemption of its outstanding €500 million 1.80% Senior Notes due 2022 on June 18, 2021. The total redemption price will include 100% of the principal amount and any unpaid interest up to the redemption date, along with a Make-Whole Amount. This redemption is conducted through Euroclear and Clearstream banking systems, with DB Services Americas acting as the paying agent. The necessary approvals for this redemption have been secured, ensuring a smooth process.
BorgWarner announces an exciting increase in the rolling jackpot for the Indianapolis 500, now totaling $380,000. This prize is set for the next back-to-back winner, with Takuma Sato as a strong contender. Each year, the company adds $20,000 to the jackpot, which rolls over if not claimed. Since its inception, only five drivers have achieved back-to-back wins. The winner will also receive a miniature trophy as a keepsake, continuing BorgWarner's cherished tradition in motorsports.
BorgWarner Inc. (NYSE: BWA) has priced a public offering of €1.0 billion of 1.00% Senior Notes due in 2031. The company expects to net approximately €981 million after expenses. Proceeds will primarily be used to redeem €500 million of its existing 1.80% Senior Notes due in November 2022, with the remainder supporting general corporate purposes and financing the acquisition of AKASOL AG. The offering’s close is anticipated on May 19, 2021, pending customary conditions.
BorgWarner Inc. (BWA) reported a strong first quarter 2021, with net sales of $4,009 million, a 76% increase from last year. Adjusted net earnings per diluted share rose to $1.21, up from $0.77 in Q1 2020. The acquisition of Delphi Technologies significantly contributed to this growth. Operating cash flow was $342 million, and free cash flow reached $147 million. For 2021, the company anticipates net sales of $14.8 to $15.4 billion, driven by market recovery and the strengthening of foreign currencies, with adjusted net earnings projected between $4.00 and $4.35 per diluted share.
BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share, to be paid on June 15, 2021. Stockholders recorded by June 1, 2021 will be eligible for this dividend. The company, a global leader in clean technology solutions for combustion, hybrid, and electric vehicles, operates 96 facilities across 24 countries with approximately 50,000 employees. This dividend reflects BorgWarner's ongoing commitment to returning value to shareholders while maintaining a strong operational presence worldwide.
BorgWarner Inc. (NYSE: BWA) will host its 2021 First Quarter Results Conference Call on May 5, 2021, at 9:00 AM Eastern Time. Investors can participate live by accessing the company's investor website. For those unable to attend, a recording of the call will be archived for later access. BorgWarner specializes in technology solutions for combustion, hybrid, and electric vehicles, operating in 96 locations across 24 countries with around 50,000 employees worldwide.
BorgWarner Inc. (NYSE: BWA) will host its 2021 First Quarter Results Conference Call on May 5, 2021, at 9:00 AM Eastern Time. This live webcast will be accessible via the company's investor relations website. The call will focus on the company's latest financial outcomes and projections, reflecting its commitment to providing stakeholders with timely updates. Following the live event, a recorded version will also be available for those unable to attend.
BorgWarner, a leading global provider of clean technology solutions for vehicles, has achieved the Great Place to Work-Certified™ status for the second consecutive year. This certification, based on rigorous employee feedback, indicates that 70% of employees report a positive experience at the company. Chief Human Resources Officer, Felecia Pryor, emphasized the company's commitment to a collaborative and inclusive workplace. This recognition reinforces BorgWarner's focus on fostering a trusting workplace culture, which is linked to enhanced business performance.
BorgWarner Inc. (NYSE: BWA) announces a conference call for its 2021 First Quarter Results, scheduled for May 5, 2021 at 9:30 am Eastern Time. The event will be accessible via the company's investor relations website. For those unable to attend live, a recording will be archived on the same site. BorgWarner specializes in clean and efficient technology solutions for vehicles, including combustion, hybrid, and electric models, with a strong global presence across 96 locations in 24 countries and approximately 50,000 employees.
BorgWarner Inc. (NYSE:BWA) announced its Project CHARGING FORWARD at its Investor Day, aiming to increase electric vehicle revenue from less than 3% today to about 45% by 2030. The strategy focuses on scaling electric light vehicles, expanding into the electric commercial sector, and optimizing its combustion portfolio. The company expects to generate approximately $4.5 billion in free cash flow from 2021-2025, while committing to carbon neutrality by 2035. BorgWarner plans to leverage its decentralized structure and competitive advantages in technology to succeed in this electrification transition.
FAQ
What is the current stock price of BorgWarner (BWA)?
What is the market cap of BorgWarner (BWA)?
What does BorgWarner Inc. do?
What are the main product segments of BorgWarner?
Who are BorgWarner's main customers?
What recent contracts has BorgWarner secured?
What are BorgWarner's financial highlights for the first quarter of 2024?
Where does BorgWarner generate most of its revenue geographically?
What is BorgWarner's contribution to the eMobility transition?
What recent products has BorgWarner developed for electric vehicles?
What is BorgWarner's outlook for 2024?
How long has BorgWarner been in the automotive industry?
