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BorgWarner Inc. - BWA STOCK NEWS

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.
Rhea-AI Summary
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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BorgWarner Inc. announces its 2023 third quarter results conference call on November 2, 2023, at 9:30am Eastern Time. The webcast will be available live on their website and archived for later viewing.
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BorgWarner announces Q3 2023 results conference call on November 2, 2023 at 9:30am ET.
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BorgWarner announces Reference Yields for cash tender offers for up to $500 million. Tender Offers subject to the Aggregate Tender Cap. Securities validly tendered and not withdrawn by Early Tender Date will be accepted for purchase and payment on September 14, 2023 without proration.
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BorgWarner Inc. announces early tender results for cash tender offers
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BorgWarner receives validation for its science-based emission reduction targets, aiming to reduce Scope 1 and 2 GHG emissions by 85% and Scope 3 emissions by 25% by 2030. Significant progress has already been made, with a 24.4% reduction achieved since 2021. The company focuses on eMobility products, circularity efforts, lightweighting, and green material sourcing to meet its goals. BorgWarner is also incentivizing suppliers to have GHG reduction targets. The company plans to further reduce emissions by 2035, surpassing 85% reduction for Scope 1 and 2 emissions.
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BorgWarner Inc. has commenced tender offers to purchase debt securities for cash, with an Aggregate Tender Cap of $500,000,000. The offers expire on September 26, 2023. Holders must tender by September 11, 2023, to receive the Total Consideration. The tender offers are not subject to minimum tender conditions.
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BorgWarner (BWA) to supply new integrated drive module (iDM) to leading Chinese OEM, enhancing hybrid driving experience and demonstrating leadership in e-Propulsion systems. The iDM comprises two inverters, two eMotors, and an e-Gear in a cost-saving compact design. Production expected to start in Q2 2024 at BorgWarner's Wuhan, China plant.
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BorgWarner (BWA) secures additional high voltage coolant heater business with a premium European OEM for its mid-size electric vehicle platform, using the 800V 3kW HVCH single-plate heater to optimize battery thermal management. The company's advanced thermal management systems are chosen for their exceptional efficiency and performance, supporting the customer's shift to electrification.
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BorgWarner (BWA) secures contract to supply high voltage coolant heaters (HVCH) for use on a series of three electric vehicle (EV) platforms for a major OEM, marking the first collaboration between the companies on a complete vehicle thermal management system. The 800V HVCH offers a compact and lightweight design, fast heating response times, and compliance with the industry's latest safety requirements. Production expected to begin in 2025.
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FAQ

What is the current stock price of BorgWarner (BWA)?

The current stock price of BorgWarner (BWA) is $31.88 as of December 20, 2024.

What is the market cap of BorgWarner (BWA)?

The market cap of BorgWarner (BWA) is approximately 6.9B.

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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6.88B
217.11M
0.66%
101.8%
3.41%
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