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 presented the Borg-Warner Trophy to Takuma Sato, the winner of the 104th Indianapolis 500, marking the first time the race occurred in August due to COVID-19. Sato, driving for Rahal Letterman Lanigan Racing, led 27 of 200 laps, averaging 157.824 mph. The trophy, created in 1936, features the likeness of each winner, with Sato being the 107th face. BorgWarner has supplied turbochargers for the event since 2012 and continues to support the race with a jackpot for consecutive winners. Sato's victory adds to the legacy of the event and BorgWarner's role in motorsports.
BorgWarner presented the 54th annual Louis Schwitzer Award to eight engineers for their work on the Aeroscreen, an innovative safety device for INDYCAR. The award recognizes engineering excellence focused on performance and safety advancements in the NTT INDYCAR SERIES. The recipients will donate their $10,000 prize to SeriousFun Children's Network. The Aeroscreen, designed to withstand significant impact and provide clear sightlines, showcases a collaboration involving multiple global manufacturers. BorgWarner emphasized the importance of engineering innovation in enhancing driver safety.
BorgWarner has announced a rolling jackpot of $360,000 for the next back-to-back winner of the Indianapolis 500, increasing the prize by $20,000 each year. Established in 1995, the jackpot has only been won once, by Helio Castroneves in 2002. The 2020 race is set for Aug. 23, where reigning champion Simon Pagenaud will compete for the jackpot. If he is victorious, the jackpot resets to $20,000. Winners receive their likeness on the Borg-Warner Trophy and a miniature version, known as the Baby Borg.
BorgWarner is developing an Integrated Drive Module (iDM) for Ford's all-electric Mustang Mach-E SUV, featuring a comprehensive thermal-management system, gearbox, motor, and power electronics. This innovative design enhances system integration and efficiency, addressing the growing demand for high-performance electric vehicles. With a capacity of 4,278 Nm of axle torque and input speeds up to 13,800 rpm, the iDM is optimized for smooth operation. Production is set to commence this year for both rear-wheel and all-wheel-drive configurations, showcasing BorgWarner's partnership with Ford in electrification.
BorgWarner Inc. (NYSE: BWA) reported a significant second quarter net sales decline of 44%, totaling $1,426 million, primarily due to COVID-19 disruptions. The net loss was $(98) million, or $(0.47) per diluted share, compared to a net income of $172 million, or $0.83 per diluted share in Q2 2019. Adjusted net loss per share was $(0.14), down from $1.00 in the previous year. The company projects full-year net sales of $8.0 billion to $8.4 billion, reflecting an expected organic sales decrease of 16% to 20%. Operating cash flow is estimated between $700 million and $850 million.
BorgWarner Inc. (NYSE: BWA) has declared a quarterly cash dividend of $0.17 per share, payable on September 15, 2020 to shareholders on record as of September 1, 2020. This decision reflects the company’s commitment to returning value to its shareholders. Known for its innovative technology solutions in the automotive sector, BorgWarner operates globally with approximately 29,000 employees across 67 locations in 19 countries, emphasizing sustainability in combustion, hybrid, and electric vehicle technologies.
BorgWarner Inc. (NYSE: BWA) has announced a webcast for its 2020 Second Quarter Results Conference Call scheduled for August 5, 2020, at 9:30 AM ET. The conference will be accessible via the company's investor relations webpage. BorgWarner operates globally with 67 facilities across 19 countries and employs approximately 29,000 people. The company focuses on clean and efficient technology solutions for combustion, hybrid, and electric vehicles. Archived access to the call will be available on the company's investor page.
BorgWarner has commenced supplying its high-performance electric drive modules (eDM) to three Chinese new energy vehicles: the JMC-Ford Territory, AIWAYS SUV U5, and Leading Ideal One. The eDM is lightweight, compact, and designed for high integration and operational efficiency, delivering over 95% efficiency. For the Territory, it provides 120kW and 280Nm torque; the U5 offers 120kW and 315Nm; while the Leading Ideal One delivers 140kW and 290Nm. Production has started in Beijing and Wuhan.
BorgWarner has announced its 2020 Second Quarter Results Conference Call set for August 5, 2020, at 9:30 AM ET. Investors can access the live webcast through the company's investor relations website. The call will be archived for those unable to attend live. BorgWarner is a leader in technology solutions for combustion, hybrid, and electric vehicles, operating in 67 locations across 19 countries with a workforce of approximately 29,000 employees.
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