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 hold a webcast for its 2020 Fourth Quarter and Full Year Results on February 11, 2021, at 9:30 AM ET. Investors can access the live stream by visiting the company's investor relations page. For those unable to attend, the call will be archived online. BorgWarner is a leader in clean technology solutions for vehicles, operating in 99 locations across 24 countries with around 48,000 employees.
BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share on November 11, 2020. The dividend will be paid on December 15, 2020, to shareholders recorded on December 1, 2020. This reflects BorgWarner's commitment to returning value to its investors. BorgWarner is a leader in clean and efficient technology solutions for various vehicle types and operates in 99 locations across 24 countries, employing approximately 48,000 people worldwide.
BorgWarner reported third-quarter 2020 net sales of $2,534 million, up 2% year-over-year, despite lower industry production volumes. Net earnings were $111 million or $0.53 per diluted share, down from $194 million or $0.94 per diluted share in Q3 2019. Adjusted earnings per diluted share fell to $0.88. The company anticipates fourth-quarter sales between $3.46 billion and $3.61 billion, driven by the Delphi Technologies acquisition. For the full year, net sales are expected to be $9.7 billion to $9.85 billion, reflecting a decline due to COVID-19 disruptions.
BorgWarner Inc. (NYSE: BWA) will host a webcast for its 2020 Third Quarter Results Conference Call on October 29, 2020, at 9:30 AM ET. Investors can join the live event and access it online at BorgWarner Investors. If unable to attend, the session will be archived for later viewing. BorgWarner specializes in clean and efficient technology solutions for combustion, hybrid, and electric vehicles, operating in 99 locations across 24 countries with approximately 48,000 employees.
BorgWarner is collaborating with Michigan Technological University and four industry partners on a new project to reduce energy consumption through advanced vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication. Funded by the U.S. Department of Energy with $1.99 million, this 27-month initiative aims to enhance energy optimization across various vehicle types. The project will capitalize on BorgWarner's propulsion expertise, with extensive vehicle testing planned at the American Center for Mobility in Ypsilanti, Michigan.
BorgWarner Inc. (NYSE: BWA) reported that approximately $776.3 million of the 5.000% Senior Notes due 2025 from Delphi Technologies were accepted in a recent exchange offer, representing 97.04% of the total outstanding. The offer was part of BorgWarner's acquisition strategy for Delphi Technologies and was completed on October 1, 2020. Eligible holders who tendered their notes by the early deadline received BorgWarner Notes and cash consideration. The amendments to the indenture are effective, and the new notes will have similar terms to the original DT Notes.
BorgWarner Inc. announced the appointment of Nelda J. Connors and David S. Haffner to its Board of Directors as of October 2, 2020. Connors, founder of Pine Grove Holdings, brings extensive expertise in operations and financial management, while Haffner, former CEO of Leggett & Platt, contributes significant experience in manufacturing operations and compensation strategy. Their appointments follow BorgWarner's recent acquisition of Delphi Technologies, solidifying the board's focus on advancing clean and efficient technology solutions for automotive applications.
BorgWarner Inc. (NYSE: BWA) has successfully completed its acquisition of Delphi Technologies as of Oct. 2, 2020. This strategic move aims to enhance BorgWarner's capabilities in electrified propulsion systems, building a stronger portfolio in electronics and power electronics products. The integration is expected to boost BorgWarner's combustion, commercial vehicle, and aftermarket sectors. Following shareholder approval and regulatory clearances, Delphi's stock will no longer be traded on the NYSE. The leadership expects significant benefits for shareholders and a seamless transition amidst pandemic challenges.
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?
