STOCK TITAN

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 has unveiled its 2024 Sustainability Report, emphasizing significant progress in its sustainability efforts. Key achievements include earning 87% of revenue from EV and hybrid products, and a 32% reduction in Scope 1 and 2 GHG emissions from a 2021 baseline, targeting an 85% reduction by 2030. The company also aims to cut Scope 3 emissions by 25% by 2030. Additionally, solar power installations at nine sites led to a 48% increase in renewable energy use since 2022, and they achieved a 92.8% waste diversion rate, exceeding their 85% goal. BorgWarner filled 64% of leadership roles internally in 2023, surpassing its 50% target, and invested over $3.6 million in employee training. The company's supplier sustainability engagement reached 81.6%, beyond its set goal. CEO Frédéric Lissalde praised the team's dedication to cleaner mobility and sustainability.

For more details, visit the full report at www.borgwarner.com/company/sustainability.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.27%
Tags
none
-
Rhea-AI Summary

BorgWarner (NYSE: BWA) has announced its 2024 second quarter results conference call scheduled for July 31, 2024, at 9:30am Eastern Time. The call will be accessible via webcast on their investor relations website. For those unable to join live, a recording will be available post-event.

BorgWarner, a company with over 130 years of history, has been a leader in mobility innovation. They are currently focusing on accelerating the global transition to eMobility, aiming for a cleaner and safer future.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary

BorgWarner has been recognized on USA TODAY's list of America's Best Climate Leaders 2024. This award is presented by USA TODAY and Statista Inc. and honors companies for their climate leadership based on a comprehensive two-step process involving application, research, and data analysis.

Criteria for inclusion included being headquartered in the USA, revenue of at least $50 million in 2022, independent emission reporting, and a broader environmental record. BorgWarner's recognition highlights their commitment to environmental sustainability across their business operations, including their strategy to increase production of electric and hybrid vehicle components.

Volker Weng, Vice President of BorgWarner and Environmental Sustainability Lead, emphasized the company's dedication to creating a cleaner, energy-efficient world through sustainable practices in production, materials, and partnerships.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.24%
Tags
none
Rhea-AI Summary

BorgWarner (NYSE: BWA) has announced the promotion of Joseph Fadool to Executive Vice President and Chief Operating Officer, effective July 1, 2024. Fadool, currently Vice President and President and GM of Emissions, Thermal, and Turbo Systems, will oversee company operations, with business unit presidents reporting to him. The company also revealed a restructured business unit system to support its Charging Forward strategy, aiming to boost operational agility and efficiency. The new units are Emissions, Thermal and Turbo Systems, Drivetrain and Morse Systems, PowerDrive Systems, and Battery and Charging Systems. The reorganization will also align with the company's financial reporting segments starting July 1, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.24%
Tags
management
-
Rhea-AI Summary

Josef Newgarden won the 2024 Indianapolis 500, securing his second consecutive win by passing Pato O'Ward on the final lap. Newgarden received the Borg-Warner Trophy® and a $440,000 rolling jackpot, resetting the pot for 2025. The race featured 49 lead changes among 18 drivers and was attended by 300,000 fans. This victory also marked team owner Roger Penske's 20th win in the event's history. BorgWarner's EFR™ turbochargers have powered all NTT INDYCAR SERIES® racecars since 2012.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.7%
Tags
none
-
Rhea-AI Summary

BorgWarner Inc. reported strong first quarter results, including an increase in net sales and adjusted earnings per diluted share compared to the previous year. The company secured contracts for electric vehicle systems with XPeng, Polestar, and a major European OEM. BorgWarner also announced a share repurchase program of up to $500 million, in addition to repurchasing $100 million of its outstanding shares during the quarter. Full-year EPS guidance has been raised, with expected net sales in the range of $14.4 to $14.9 billion. Operating margin and adjusted net earnings per diluted share are also expected to increase for the full year.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.4%
Tags
buyback earnings
Rhea-AI Summary
BorgWarner Inc. (NYSE: BWA) announces its 2024 First Quarter Results Conference Call scheduled for May 2, 2024, at 9:30 am Eastern Time. The webcast can be accessed via their website. BorgWarner is a global mobility innovation leader focusing on eMobility for a cleaner, healthier future.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.13%
Tags
-
News
Rhea-AI Summary
BorgWarner Inc. (NYSE: BWA) declared a quarterly cash dividend of $0.11 per share of common stock, payable on June 17, 2024. The company, known for over 130 years of mobility innovation, is focused on eMobility to create a cleaner, healthier future.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.47%
Tags
dividends
-
Rhea-AI Summary
BorgWarner has been recognized as one of the Most Trustworthy Companies in America 2024 by Newsweek and Statista Inc. for its commitment to customer, investor, and employee trust.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.12%
Tags
none
Rhea-AI Summary
BorgWarner Inc. (NYSE: BWA) announces its 2024 First Quarter Results Conference Call scheduled for May 2, 2024, at 9:30 am Eastern Time. The company, known for over 130 years of successful mobility innovation, is focusing on accelerating the world's transition to eMobility for a cleaner, healthier, safer future. For more details and to participate in the webcast, visit borgwarner.com.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.6%
Tags

FAQ

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

BWA Rankings

BWA Stock Data

7.43B
227.84M
0.65%
100.45%
4.53%
Other Motor Vehicle Parts Manufacturing
Manufacturing
Link
United States of America
AUBURN HILLS