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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.
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BorgWarner (BWA) honors Josef Newgarden by adding his face to the Borg-Warner Trophy® after winning the 107th Indianapolis 500, making him the first American to win the race since 2016. The ceremony took place at The Stutz Museum in Indianapolis, with William Behrends sculpting Newgarden's face onto the trophy. Newgarden's victory was marked by a last lap pass, making him one of three drivers in history to achieve this feat.
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BorgWarner Inc. (BWA) has been awarded on Newsweek's list of America's Most Responsible Companies 2024 for the fifth consecutive year. The company's environmental, social, and corporate governance (ESG) efforts were recognized and ranked by KPI research and public survey findings. The list recognizes the top 600 most responsible companies in the U.S., spanning 14 industries.
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BorgWarner (BWA) included in Human Rights Campaign Foundation's 2023-2024 Corporate Equality Index for the third consecutive year, showcasing the company's commitment to LGBTQ+ workplace equality and inclusive culture.
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BorgWarner Inc. (NYSE: BWA) announced the retirement of Kevin Nowlan, the Executive Vice President and Chief Financial Officer, after a 28-year career in finance. Craig Aaron, the current Vice President and Controller, will succeed Mr. Nowlan as Executive Vice President and CFO, effective March 1, 2024. Mr. Nowlan will remain with the Company in an advisory capacity through April 1, 2024, to ensure a smooth transition. Frédéric Lissalde, President and Chief Executive Officer, expressed gratitude for Mr. Nowlan's contributions and announced Craig Aaron's promotion, emphasizing his significant role in the company's strategic initiatives. Mr. Nowlan cited personal priorities as the reason for his retirement, expressing gratitude for the opportunity and partnership with Mr. Lissalde and his team. Mr. Aaron, with 15 years of experience at BorgWarner, expressed confidence in the company's strategy and his ability to drive sustained growth and top-quartile margins within the industry.
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BorgWarner Inc. (NYSE: BWA) has completed the acquisition of the Electric Hybrid Systems business segment of Eldor Corporation, expanding its ePropulsion portfolio and high-voltage power electronics. Frédéric Lissalde, President and CEO of BorgWarner, expressed satisfaction with the acquisition.
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BorgWarner Inc. (BWA) declares a quarterly cash dividend of $0.11 per share of common stock, payable on December 15, 2023, to stockholders of record on December 1, 2023. The company has been a global product leader for over 130 years and is now focusing on accelerating the world's transition to eMobility.
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BorgWarner has secured an agreement with a major North American OEM to supply its bi-directional 800V Onboard Charger (OBC) for premium passenger vehicle battery electric vehicle (BEV) platforms. The OBC leverages silicon carbide (SiC) power switches for improved efficiency and offers various degrees of power, including 19.2kW single-phase and 22kW three-phase operation. Production is set to begin in January 2027.
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BorgWarner has been awarded an increased business contract by a premium European OEM to supply additional Combined Inverter and DC/DC Converter (CIDD) units for use in the company's all-wheel-drive B and C segment hybrid applications. The CIDD offers a compact solution to manage both a vehicle's electric drive and accessory systems, maximizing power density in a lighter, smaller, and more cost-effective package. BorgWarner's CIDD design leverages the company's Viper power module with dual-sided cooling, providing twice the power density of alternative modules in the market. This contract extension signifies the customer's recognition of BorgWarner's exceptional performance, consistent quality, competitive value, and increasing sustainability efforts within their plants.
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BorgWarner has secured a contract to supply its 400V high voltage coolant heaters (HVCH) for a major global OEM's European light vehicle program. The production is expected to start in 2026. This is the second HVCH contract that BorgWarner has won from the automaker in two months. The HVCH features a modular design with high thermal power density, optimized for heating a pure battery electric vehicle's battery and cabin. It offers enhanced heat transfer for fast charging and meets packaging and safety requirements.
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BorgWarner Inc. reports Q3 2023 results with net sales of $3,622 million, up 12% YoY. The company expects its 2023 eProduct sales to be $2.0 billion to $2.1 billion, up from $1.5 billion in 2022. BorgWarner has signed an agreement with a major North American OEM to supply its bi-directional 800V Onboard Charger (OBC) for use on the automaker's premium passenger car battery electric vehicle (BEV) platforms. The company also has agreements to supply inverters for Volvo Cars' Next-Generation Electric Vehicles and high voltage coolant heaters (HVCH) for a major global OEM's European light vehicle program. BorgWarner's targets to reduce greenhouse gas emissions have been validated by the Science Based Targets initiative (SBTi).
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FAQ
What is the current stock price of BorgWarner (BWA)?
The current stock price of BorgWarner (BWA) is $34.5 as of November 15, 2024.
What is the market cap of BorgWarner (BWA)?
The market cap of BorgWarner (BWA) is approximately 7.5B.
What does BorgWarner Inc. do?
BorgWarner Inc. is a global leader in innovative powertrain solutions, improving fuel efficiency, reducing emissions, and enhancing performance for engines, transmissions, and driveline systems.
What are the main product segments of BorgWarner?
BorgWarner operates through three main segments: Air Management, Drivetrain and Battery Systems, and e-Propulsion.
Who are BorgWarner's main customers?
BorgWarner's largest customers are Ford and Volkswagen, contributing 14% and 11% of the 2023 revenue, respectively.
What recent contracts has BorgWarner secured?
BorgWarner recently secured contracts to supply dual inverters with boost function to a major Chinese OEM and high voltage coolant heaters (HVCH) to a major global OEM.
What are BorgWarner's financial highlights for the first quarter of 2024?
BorgWarner reported net sales of $3,595 million, a 6% increase from the previous year, and net earnings of $213 million or $0.93 per diluted share.
Where does BorgWarner generate most of its revenue geographically?
In 2023, BorgWarner generated 36% of its revenue from Europe, 34% from Asia, and 29% from North America.
What is BorgWarner's contribution to the eMobility transition?
BorgWarner is accelerating the transition to eMobility by developing advanced technologies for electric vehicles, including e-motors, power electronics, and control modules.
What recent products has BorgWarner developed for electric vehicles?
BorgWarner has developed high voltage hairpin (HVH) 220 eMotors and high voltage coolant heaters (HVCH) for battery-electric vehicles.
What is BorgWarner's outlook for 2024?
BorgWarner expects 2024 net sales to range from $14.4 billion to $14.9 billion, with an operating margin of 8.2% to 8.5%.
How long has BorgWarner been in the automotive industry?
BorgWarner has been a transformative global product leader in the automotive industry for over 130 years.
BorgWarner Inc.
NYSE:BWA
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7.52B
218.70M
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104.79%
3.06%
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