BorgWarner Reports Strong First Quarter 2026 Results
Rhea-AI Summary
BorgWarner (NYSE: BWA) reported first quarter 2026 results on May 6, 2026. U.S. GAAP net sales were $3,533 million, up ~1% year‑over‑year; organic net sales fell ~4.2%. U.S. GAAP operating margin was 9.5% and adjusted operating margin was 10.5%.
The company returned ~$185 million to shareholders, announced 12 new awards across its portfolio, and maintained full‑year 2026 guidance with sales guidance of $14.0–14.3 billion and adjusted EPS guidance of $5.00–$5.20.
Positive
- U.S. GAAP net sales of $3,533M in Q1 2026
- Adjusted operating margin improved to 10.5%
- Returned approximately $185M to shareholders in Q1 2026
- Secured 12 awards across portfolio supporting long‑term growth
- Maintained full‑year 2026 guidance: $14.0–14.3B sales and $5.00–$5.20 adjusted EPS
Negative
- Organic net sales declined approximately 4.2% year‑over‑year in Q1 2026
- U.S. GAAP operating margin declined by 280 bps versus Q1 2025
- Battery Energy Systems segment expected to decline about $210M in 2026, a ~1.5% headwind to organic growth
News Market Reaction – BWA
On the day this news was published, BWA gained 3.75%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
While BWA was up 1.78%, peers also showed gains (e.g., MOD +2.96%, ALSN +1.90%, ALV +1.75%), but no peers appeared in the momentum scanner, pointing to a more stock-specific reaction.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Oct 30 | Q3 2025 earnings | Positive | +3.1% | Q3 2025 beat with higher guidance, strong margins, and shareholder returns. |
| Jul 31 | Q2 2025 earnings | Positive | +6.6% | Q2 2025 margin strength, eProduct growth, higher dividend and buyback plan. |
| May 07 | Q1 2025 earnings | Positive | +4.4% | Q1 2025 adjusted EPS growth and restructuring of charging and battery units. |
| Feb 06 | FY 2024 results | Negative | -3.0% | FY 2024 sales decline and net loss despite outlook for solid 2025 margins. |
| Jul 31 | Q2 2024 earnings | Positive | +8.8% | Q2 2024 strong margins, higher EPS guidance, restructuring for future cost savings. |
Earnings headlines have typically led to positive price reactions, with all five recent earnings events showing gains on the following day.
Over the past two years, BorgWarner’s earnings releases have generally featured adjusted operating margins above 10% and consistent adjusted EPS growth. Prior updates often included raised full-year guidance, shareholder returns via dividends and buybacks, and expanding eProduct or electrification awards. The current Q1 2026 update, with $3,533 million in net sales, higher adjusted EPS and continued share repurchases, fits this pattern of emphasizing margin resilience, capital returns, and long-term electrification contracts despite mixed end-market conditions.
Historical Comparison
In the last five earnings-related releases, BWA moved an average of 3.97% over the next day, usually reacting positively to margin strength and guidance updates.
Recent earnings events show BorgWarner maintaining adjusted operating margins above 10%, gradually lifting guidance, and reinforcing its electrification strategy alongside ongoing shareholder returns.
Regulatory & Risk Context
An effective Form S-3ASR automatic shelf filed on 2026-02-13 allows BorgWarner to issue debt, equity, and other securities over time for general corporate purposes, including refinancing, capital spending, acquisitions, investments, or security repurchases.
Market Pulse Summary
This announcement details Q1 2026 results with U.S. GAAP net sales of $3,533 million, adjusted operating margin of 10.5%, and adjusted EPS of $1.24, alongside $185 million returned via buybacks and dividends. Management maintained full-year 2026 guidance, calling for net sales of $14.0–$14.3 billion and adjusted EPS of $5.00–$5.20. Investors may track organic sales trends, Battery Energy Systems headwinds, execution on new awards, and any use of the active S-3ASR shelf for future financing.
Key Terms
organic net sales financial
adjusted operating margin financial
basis points financial
free cash flow financial
variable turbine geometry technical
exhaust gas recirculation technical
dual clutch technical
variable cam timing technical
AI-generated analysis. Not financial advice.
Returned
Announces 12 Awards Across Portfolio to Support Long-Term Profitable Growth
First Quarter Results and Business Update
- BorgWarner's (the "Company")
U.S. GAAP net sales increased approximately1% , while organic net sales decreased approximately4.2% , year-over-year compared with the first quarter of 2025. Excluding the decline in Battery Energy Systems segment sales, this performance was roughly in line with the Company's weighted light vehicle markets. - The Company achieved a
U.S. GAAP operating margin of9.5% during the first quarter of 2026, or a decrease of 280 basis points, compared with the first quarter of 2025. The Company achieved an adjusted operating margin of10.5% , or an increase of 50 basis points, compared with the first quarter of 2025. The Company's continued focus on cost controls allowed it to deliver strong performance despite a lower industry production environment. - The Company returned approximately
$185 million $150 million $35 million - The Company continues to expand its data center and industrial portfolio. This now includes battery energy storage systems and bi-directional microgrid inverters. Additionally, the Company's planned 2027 turbine generator system launch is on track with B-samples being delivered to the customer.
New Business Awards Across Portfolio
The Company secured multiple new business awards that are expected to support its long-term profitable growth, including the following:
- Seven-year contract extension to supply eight families of engine, machine, power module, and battery management system controllers. This program starts in 2026 with a world-leading off-highway engine and machine manufacturer for large diesel engine applications.
- Three turbocharger program extension awards and one conquest award with a major European OEM. Production is expected to begin in phases starting in 2026 through 2029.
- Conquest variable turbine geometry (VTG) turbocharger and exhaust gas recirculation (EGR) cooler awards with a major European commercial vehicle OEM for on-highway use. Production is expected to begin in 2028.
- Dual clutch (DCT) award with a Chinese OEM for an SUV platform and a variable cam timing system (VCT) conquest award with a Japanese OEM for a hybrid program. Production is expected to begin in 2026 and 2028, respectively.
- Three eMotor awards with Asian OEMs, including two hybrid vehicle awards in
China and one electric vehicle award inSouth Korea . Production is expected to begin in 2026 and 2027 inChina and 2027 inSouth Korea .
First Quarter Highlights:
U.S. GAAP net sales of$3,533 million 1% compared with the first quarter of 2025.- Excluding the impact of foreign currencies, organic net sales decreased
4.2% compared with the first quarter of 2025.
- Excluding the impact of foreign currencies, organic net sales decreased
U.S. GAAP net earnings of$1.16 - Excluding
$0.08 $1.24 12% compared with the first quarter of 2025.
- Excluding
U.S. GAAP operating income of$336 million 9.5% of net sales.- Excluding
$36 million $372 million 10.5% of net sales.
- Excluding
- Net cash provided by operating activities of
$152 million - Free cash flow of
$13 million
- Free cash flow of
Financial Results:
The Company believes the following table is useful in highlighting non-comparable items that impacted its
Three Months Ended March 31, | |||
2026 | 2025 | ||
Earnings per diluted share | $ 1.16 | $ 0.72 | |
Non-comparable items: | |||
Restructuring expense | 0.06 | 0.11 | |
Adjustments associated with Spin-Off related balances | 0.01 | (0.01) | |
Unrealized loss on equity securities | 0.01 | — | |
Impairment charges | — | 0.15 | |
Costs to exit charging business | — | 0.11 | |
Merger and acquisition expense, net | (0.01) | 0.01 | |
Tax adjustments | 0.01 | 0.01 | |
Other non-comparable items | — | 0.01 | |
Adjusted earnings per diluted share | $ 1.24 | $ 1.11 | |
Net sales were
Full Year 2026 Guidance Update: The Company maintained its 2026 full year guidance. At the mid-point of its 2026 guidance, BorgWarner expects to deliver another year of adjusted operating margin improvement and adjusted earnings per share growth despite the Company's expectation that its weighted light vehicle markets will be down
At 9:30 a.m. ET today, a brief conference call concerning first quarter 2026 results and guidance will be webcast at: https://www.borgwarner.com/investors. Additionally, an earnings call presentation will be available at https://www.borgwarner.com/investors.
For more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. With a focus on sustainability, we're helping to build a cleaner, healthier, safer future for all.
Forward Looking Statements: This release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should ," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact, contained or incorporated by reference in this release that we expect or anticipate will or may occur in the future regarding our financial position, including our guidance for full year 2026, our business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and profitable growth of our business and operations, plans, references to future success, including the anticipated benefits of our new business awards and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies and Estimates" in Item 7 of our most recently filed Annual Report on Form 10-K ("Form 10-K"), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. Forward-looking statements are not guarantees of performance, and the Company's actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.
You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: the success of our portfolio strategy; supply disruptions impacting us or our customers, commodity availability and pricing and an inability to achieve expected levels of recoverability in commercial negotiations with customers concerning these costs; conditions in the automotive industry; competitive challenges from existing and new competitors, including original equipment manufacturer ("OEM") customers; the challenges associated with rapidly changing technologies, including artificial intelligence, and our ability to innovate in response; the difficulty in forecasting demand for electric vehicles and our electric vehicles revenue growth; potential future changes in laws and regulations, including, by way of example, taxes and tariffs, in the countries in which we operate; potential disruptions in the global economy caused by wars or other geopolitical conflicts; the ability to identify targets and consummate acquisitions on acceptable terms; failure to realize the expected benefits of acquisitions on a timely basis; the possibility that our 2023 tax-free spin-off of our former Fuel Systems and Aftermarket segments into a separate publicly traded company will not achieve its intended tax benefits; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to the acquired businesses; impacts of our exit of the charging business; our dependence on automotive and truck production, which is highly cyclical and subject to disruptions; our reliance on major OEM customers; impacts of any future strikes involving any of our OEM customers and any actions such OEM customers take in response; fluctuations in interest rates and foreign currency exchange rates; our dependence on information systems; the uncertainty of the global economic environment; the uncertainty surrounding global trade policies, including tariffs and export restrictions and their impact on the Company, its customers and its suppliers; the outcome of existing or any future legal proceedings, including litigation with respect to various claims, or governmental investigations, including related litigation; impacts from any potential future acquisition or disposition transactions; and the other risks discussed in reports that we file with the Securities and Exchange Commission, including in Item 1A. "Risk Factors" in our most recently filed Form 10-K and/or Quarterly Report on Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.
BorgWarner Inc. | |||
Condensed Consolidated Statements of Operations (Unaudited) | |||
(in millions, except per share amounts) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Net sales | $ 3,533 | $ 3,515 | |
Cost of sales | 2,856 | 2,876 | |
Gross profit | 677 | 639 | |
Gross margin | 19.2 % | 18.2 % | |
Selling, general and administrative expenses | 328 | 315 | |
Restructuring expense | 18 | 31 | |
Other operating (income) expense, net | (5) | 17 | |
Impairment charges | — | 39 | |
Operating income | 336 | 237 | |
Equity in affiliates' earnings, net of tax | (6) | (10) | |
Unrealized loss on equity securities | 1 | — | |
Interest expense, net | 11 | 12 | |
Other postretirement expense | 2 | 3 | |
Earnings before income taxes and noncontrolling interest | 328 | 232 | |
Provision for income taxes | 73 | 61 | |
Net earnings | 255 | 171 | |
Net earnings attributable to noncontrolling interest | 13 | 14 | |
Net earnings attributable to BorgWarner Inc. | $ 242 | $ 157 | |
Earnings per share attributable to BorgWarner Inc. — diluted | $ 1.16 | $ 0.72 | |
Weighted average shares outstanding: | |||
Basic | 205.3 | 217.2 | |
Diluted | 208.3 | 218.1 | |
BorgWarner Inc. | |||
Net Sales by Reportable Segment (Unaudited) | |||
(in millions) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Turbos & Thermal Technologies | $ 1,433 | $ 1,454 | |
Drivetrain & Morse Systems | 1,422 | 1,361 | |
PowerDrive Systems | 587 | 561 | |
Battery Energy Systems | 102 | 150 | |
Inter-segment eliminations | (11) | (11) | |
Net sales | $ 3,533 | $ 3,515 | |
Segment Adjusted Operating Income (Loss) (Unaudited) | |||
(in millions) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Turbos & Thermal Technologies | $ 214 | $ 235 | |
Drivetrain & Morse Systems | 260 | 243 | |
PowerDrive Systems | (36) | (43) | |
Battery Energy Systems | (2) | (22) | |
Segment Adjusted Operating Income | 436 | 413 | |
Corporate, including stock-based compensation | 64 | 61 | |
Restructuring expense | 18 | 31 | |
Intangible asset amortization expense | 16 | 17 | |
Accelerated depreciation | 2 | — | |
Adjustments associated with Spin-Off related balances | 2 | (3) | |
Impairment charges | — | 39 | |
Costs to exit charging business | — | 26 | |
Loss on sale of businesses | — | 1 | |
Merger and acquisition expense, net | (2) | 2 | |
Other non-comparable items | — | 2 | |
Equity in affiliates' earnings, net of tax | (6) | (10) | |
Unrealized loss on equity securities | 1 | — | |
Interest expense, net | 11 | 12 | |
Other postretirement expense | 2 | 3 | |
Earnings before income taxes and noncontrolling interest | $ 328 | $ 232 | |
Provision for income taxes | 73 | 61 | |
Net Earnings | 255 | 171 | |
Net earnings attributable to noncontrolling interest | 13 | 14 | |
Net earnings attributable to BorgWarner Inc. | $ 242 | $ 157 | |
BorgWarner Inc. | |||
Condensed Consolidated Balance Sheets (Unaudited) | |||
(in millions) | |||
March 31, | December 31, | ||
ASSETS | |||
Cash and cash equivalents | $ 2,110 | $ 2,313 | |
Receivables, net | 3,088 | 2,962 | |
Inventories | 1,200 | 1,207 | |
Prepayments and other current assets | 344 | 313 | |
Total current assets | 6,742 | 6,795 | |
Property, plant and equipment, net | 3,259 | 3,330 | |
Other non-current assets | 3,652 | 3,644 | |
Total assets | $ 13,653 | $ 13,769 | |
LIABILITIES AND EQUITY | |||
Short-term debt | $ 5 | $ 5 | |
Accounts payable | 2,058 | 1,996 | |
Other current liabilities | 1,102 | 1,281 | |
Total current liabilities | 3,165 | 3,282 | |
Long-term debt | 3,876 | 3,894 | |
Other non-current liabilities: | 970 | 979 | |
Total liabilities | 8,011 | 8,155 | |
Total BorgWarner Inc. stockholders' equity | 5,479 | 5,442 | |
Noncontrolling interest | 163 | 172 | |
Total equity | 5,642 | 5,614 | |
Total liabilities and equity | $ 13,653 | $ 13,769 | |
BorgWarner Inc. | |||
Condensed Consolidated Statements of Cash Flows (Unaudited) | |||
(in millions) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
OPERATING ACTIVITIES | |||
Net cash provided by operating activities | $ 152 | $ 82 | |
INVESTING ACTIVITIES | |||
Capital expenditures, including tooling outlays | (143) | (119) | |
Customer advances related to capital expenditures | 4 | 2 | |
Proceeds from settlement of net investment hedges, net | 9 | 12 | |
Proceeds from asset disposals and other, net | — | 11 | |
Net cash used in investing activities | (130) | (94) | |
FINANCING ACTIVITIES | |||
Payments of notes payable | — | (5) | |
Repayments of debt, including current portion | (2) | (346) | |
Payments for purchase of treasury stock | (150) | — | |
Payments for stock-based compensation items | (28) | (18) | |
Payment for business acquired, net of cash acquired | (3) | — | |
Dividends paid to BorgWarner stockholders | (35) | (24) | |
Dividends paid to noncontrolling stockholders | — | (4) | |
Net cash used in financing activities | (218) | (397) | |
Effect of exchange rate changes on cash | (7) | 22 | |
Net decrease in cash, cash equivalents and restricted cash | (203) | (387) | |
Cash and cash equivalents at beginning of year | 2,313 | 2,094 | |
Cash, cash equivalents and restricted cash at end of period | $ 2,110 | $ 1,707 | |
Supplemental Information (Unaudited) | |||
(in millions) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Depreciation and tooling amortization | $ 129 | $ 138 | |
Intangible asset amortization | $ 16 | $ 17 | |
Non-GAAP Financial Measures
This press release contains information about the Company's financial results that is not presented in accordance with
Management believes that these non-GAAP financial measures are useful to management, investors and banking institutions in their analyses of the Company's business and operating performance. Management also uses this information for operational planning and decision-making purposes.
Non-GAAP financial measures are not and should not be considered a substitute for any
Adjusted Operating Income and Adjusted Operating Margin
The Company defines adjusted operating income as operating income adjusted to exclude the impact of restructuring expense, merger, acquisition and divestiture expense, intangible asset amortization expense, other net expenses, discontinued operations and other gains and losses not reflective of the Company's ongoing operations. Adjusted operating margin is defined as adjusted operating income divided by net sales.
Adjusted Net Earnings
The Company defines adjusted net earnings as net earnings attributable to the Company, adjusted to eliminate the impact of restructuring expense, merger, acquisition and divestiture expense, other net expenses, discontinued operations and other gains and losses not reflective of the Company's ongoing operations and related tax effects. The impact of intangible asset amortization expense continues to be included in adjusted net earnings.
Adjusted Earnings per Diluted Share
The Company defines adjusted earnings per diluted share as earnings per diluted share adjusted to eliminate the impact of restructuring expense, merger, acquisition and divestiture expense, other net expenses, discontinued operations and other gains and losses not reflective of the Company's ongoing operations and related tax effects. The impact of intangible asset amortization expense continues to be included in adjusted earnings per share.
Free Cash Flow
The Company defines free cash flow as net cash provided by operating activities minus capital expenditures, net of customer advances related to capital expenditures. The Company believes this measure is useful to both management and investors in evaluating the Company's ability to service and repay its debt.
Organic Net Sales Change
The Company defines organic net sales changes as net sales change year-over-year excluding the estimated impact of foreign exchange ("FX") and net mergers, acquisitions and divestitures.
Adjusted Operating Income and Adjusted Operating Margin (Unaudited) | |||
Three Months Ended March 31, | |||
(in millions) | 2026 | 2025 | |
Net sales | $ 3,533 | $ 3,515 | |
Operating income | $ 336 | $ 237 | |
Operating margin | 9.5 % | 6.7 % | |
Non-comparable items: | |||
Restructuring expense | $ 18 | $ 31 | |
Intangible asset amortization expense | 16 | 17 | |
Accelerated depreciation | 2 | — | |
Adjustments associated with Spin-Off related balances | 2 | (3) | |
Impairment charges | — | 39 | |
Costs to exit charging business | — | 26 | |
Merger and acquisition expense, net | (2) | 2 | |
Loss on sale of businesses | — | 1 | |
Other non-comparable items | — | 2 | |
Adjusted operating income | $ 372 | $ 352 | |
Adjusted operating margin | 10.5 % | 10.0 % | |
Free Cash Flow Reconciliation (Unaudited) | |||
Three Months Ended March 31, | |||
(in millions) | 2026 | 2025 | |
Net cash provided by operating activities | $ 152 | $ 82 | |
Capital expenditures, including tooling outlays | (143) | (119) | |
Customer advances related to capital expenditures | 4 | 2 | |
Free cash flow | $ 13 | $ (35) | |
First Quarter 2026 Organic Net Sales Change (Unaudited) | |||||||||
(in millions) | Q1 2025 | FX | Organic | Q1 2026 | Organic | ||||
Turbos & Thermal Technologies | $ 1,454 | $ 81 | $ (102) | $ 1,433 | (7.0) % | ||||
Drivetrain & Morse Systems | 1,361 | 49 | 12 | 1,422 | 0.9 % | ||||
PowerDrive Systems | 561 | 31 | (5) | 587 | (0.9) % | ||||
Battery Energy Systems | 150 | 6 | (54) | 102 | (36.0) % | ||||
Inter-segment eliminations | (11) | — | — | (11) | — % | ||||
Net sales | $ 3,515 | $ 167 | $ (149) | $ 3,533 | (4.2) % | ||||
Adjusted Operating Income and Adjusted Operating Margin Guidance Reconciliation (Unaudited) | |||
Full-Year 2026 Guidance | |||
(in millions) | Low | High | |
Net sales | $ 14,000 | $ 14,300 | |
Operating income | $ 1,361 | $ 1,416 | |
Operating margin | 9.7 % | 9.9 % | |
Non-comparable items: | |||
Restructuring expense | $ 80 | $ 90 | |
Intangible asset amortization | 57 | 57 | |
Accelerated depreciation | 2 | 2 | |
Adjustment associated with Spin-Off related balances | 2 | 2 | |
Merger and acquisition expense, net | (2) | (2) | |
Adjusted operating income | $ 1,500 | $ 1,565 | |
Adjusted operating margin | 10.7 % | 10.9 % | |
Adjusted Earnings Per Diluted Share Guidance Reconciliation (Unaudited) | |||
Full-Year 2026 Guidance | |||
Low | High | ||
Earnings per Diluted Share | $ 4.70 | $ 4.87 | |
Non-comparable items: | |||
Restructuring expense | $ 0.28 | $ 0.31 | |
Adjustment associated with Spin-Off related balances | 0.01 | 0.01 | |
Unrealized loss on equity securities | 0.01 | 0.01 | |
Merger and acquisition expense, net | (0.01) | (0.01) | |
Tax adjustments | 0.01 | 0.01 | |
Adjusted Earnings per Diluted Share | $ 5.00 | $ 5.20 | |
Free Cash Flow Guidance Reconciliation (Unaudited) | |||
Full-Year 2026 Guidance | |||
(in millions) | Low | High | |
Net cash provided by operating activities | $ 1,600 | $ 1,700 | |
Capital expenditures, including tooling outlays | (700) | (600) | |
Free cash flow | $ 900 | $ 1,100 | |
Full Year 2026 Organic Net Sales Change Guidance Reconciliation (Unaudited) | |||||||||||||||
(in millions) | FY 2025 Net | FX | Battery | Organic Net | FY 2026 Net | Organic Net | Organic Net | BorgWarner | |||||||
Low | $ 14,316 | $ 200 | $ (210) | $ (306) | $ 14,000 | (2.1) % | (3.6) % | (3.0) % | |||||||
High | $ 14,316 | $ 200 | $ (210) | $ (6) | $ 14,300 | — % | (1.5) % | — % | |||||||
Full Year 2026 Estimated Year-Over-Year Change in Production (Unaudited) | ||||||||||
Total | BorgWarner | |||||||||
Light vehicle | (3)% to | (3)% to | (4)% to (1.5)% | (3)% to (1)% | (3)% to | |||||
View original content to download multimedia:https://www.prnewswire.com/news-releases/borgwarner-reports-strong-first-quarter-2026-results-302763218.html
SOURCE BorgWarner