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) will host an Investor Day on March 23, 2021, from 9:00 a.m. to 12:00 p.m. EDT, broadcast from its World Headquarters in Auburn Hills, Michigan. Senior leadership will present insights into the company's technologies and its strategic positioning in the electrification domain. The event aims to engage the investment community and showcase BorgWarner's advancements in clean and efficient technology solutions for vehicles. Additional details can be found on their IR website.
BorgWarner has announced a $1,025,000 donation to Kettering University, establishing the BorgWarner Scholars Program aimed at supporting scholarships for underrepresented students, particularly African American and Hispanic individuals, pursuing engineering. The initiative will provide nearly $40,000 annually in scholarships, focusing on those in financial need and offering co-op positions at BorgWarner for real-world experience. This commitment reflects BorgWarner's dedication to fostering diversity within the STEM workforce. The donation includes an additional $100,000 to broaden university initiatives for corporate sponsorships.
BorgWarner Inc. (NYSE:BWA) will host a virtual Investor Day on March 23, 2021, from 9:00 a.m. to 12:00 p.m. (EDT), broadcast from its headquarters in Auburn Hills, Michigan. The event will feature presentations by senior leadership, offering insights into the company's technologies and its strategic positioning in an electrified world. More details can be found on the investor relations website at borgwarner.com/investors.
BorgWarner celebrated Takuma Sato's induction as the 107th face on the Borg-Warner Trophy for his second Indianapolis 500 victory in 2020 during a ceremony at the Indianapolis Motor Speedway Museum. The trophy, commissioned in 1935, honors each winner with a life-like sculpture. Sato praised the artistic process that captures his personality in sterling silver. Despite the pandemic impacting the 104th Indy 500, Sato led 27 laps and averaged 157.824 mph. Later, he will receive a miniature replica trophy, and Rahal Letterman Lanigan Racing will also receive recognition for their contribution.
BorgWarner (NYSE: BWA) has signed a Business Combination Agreement with AKASOL AG (ETR: ASL) to enhance its commercial vehicle electrification capabilities. A wholly-owned subsidiary of BorgWarner will launch a public takeover offer at €120.00 per share for AKASOL, valuing the company at approximately €754 million, including €27 million in debt. Approximately 59% of AKASOL's shareholders have committed to accept the offer. The acquisition aims to strengthen BorgWarner's position in the growing electric commercial vehicle market, with the deal expected to close in late Q2 2021.
BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share, set to be paid on March 15, 2021, to stockholders of record by March 1, 2021. This declaration reflects the company's commitment to returning value to its shareholders amidst its focus on clean and efficient technology solutions for vehicles. BorgWarner operates globally with around 50,000 employees across 96 locations in 24 countries.
BorgWarner reported strong fourth quarter 2020 results with U.S. GAAP net sales of $3,926 million, a 53.4% increase from Q4 2019. Adjusted net income per diluted share stood at $1.18, showing resilience despite a challenging year. Full-year sales were relatively flat at $10,165 million, affected by the pandemic and acquisitions. The company expects 2021 net sales between $14.7 billion and $15.3 billion, representing a 12% to 17% organic sales increase, with net earnings projected between $3.23 to $3.77 per share.
BorgWarner has announced the upcoming launch of its High Voltage Hairpin (HVH) 320 electric motor, designed for hybrid and electric commercial vehicles. Set for production in 2024, the HVH 320 features 800-volt capabilities and aims to fulfill the needs of a major European OEM. The motor boasts up to 97% peak efficiency and 400kW of power, supporting a common electric drivetrain. Additionally, it achieves a torque output of up to 1270 Nm and includes advanced features like regenerative braking. This innovation enhances BorgWarner’s portfolio in clean propulsion technologies.
BorgWarner Inc. (NYSE: BWA) will hold a conference call on February 11, 2021, at 9:30 AM Eastern Time to discuss its 2020 fourth quarter and full year results. The call will be available live on the company's investor page and will be archived for later access. BorgWarner is a leader in technology solutions for combustion, hybrid, and electric vehicles, operating 99 facilities in 24 countries with approximately 48,000 employees worldwide.
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?
