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. reports developments as a global automotive supplier serving original equipment manufacturers with turbo and thermal management technologies, drivetrain systems, powerdrive systems, and battery and charging systems. Company updates commonly cover OEM program awards for passenger cars, vans, commercial vehicles and off-highway applications, including variable turbine geometry turbochargers, exhaust gas recirculation coolers, controllers and battery management systems.
Recurring news also includes quarterly earnings, shareholder returns, sustainability recognition and BorgWarner's long-running Indianapolis 500 trophy programs. The company's disclosures reflect a supplier portfolio spanning combustion vehicle technologies and electrified mobility components across major automotive markets.
BorgWarner has declared a quarterly cash dividend of $0.17 per share, scheduled for payment on September 15, 2021. This dividend will benefit stockholders of record as of September 1, 2021. With a strong presence in sustainable mobility solutions, the company continues to leverage its expertise in the vehicle market and aftermarket services, employing around 50,000 staff across 96 locations in 23 countries.
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BorgWarner Inc. (NYSE: BWA) has completed a tender offer for shares of AKASOL AG, securing 89.08% ownership. This acquisition enhances BorgWarner's strategic position in the electric vehicle market, particularly in battery pack solutions. The company paid €648 million from current cash balances to complete the acquisition, aiming for significant revenue growth as part of its Project Charging Forward, which targets electric vehicle revenues to reach 45% by 2030. AKASOL will operate independently but will integrate into BorgWarner’s Air Management reporting segment.
BorgWarner's integrated drive module (iDM) has been selected by the Hyundai Motor Group for their upcoming A-segment electric vehicles, with production set to begin in mid-2023. This collaboration highlights a two-decade partnership and marks their first electrification project together. The iDM146 system, designed for high-performance, operates at 400V and delivers peak power of 135 kW. It integrates a gearbox, silicon inverter, and motor to enhance efficiency and reduce footprint. This development reflects BorgWarner's commitment to sustainable mobility solutions.
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BorgWarner Inc. (NYSE: BWA) announced the full redemption of its outstanding €500 million 1.80% Senior Notes due 2022 on June 18, 2021. The total redemption price will include 100% of the principal amount and any unpaid interest up to the redemption date, along with a Make-Whole Amount. This redemption is conducted through Euroclear and Clearstream banking systems, with DB Services Americas acting as the paying agent. The necessary approvals for this redemption have been secured, ensuring a smooth process.
BorgWarner announces an exciting increase in the rolling jackpot for the Indianapolis 500, now totaling $380,000. This prize is set for the next back-to-back winner, with Takuma Sato as a strong contender. Each year, the company adds $20,000 to the jackpot, which rolls over if not claimed. Since its inception, only five drivers have achieved back-to-back wins. The winner will also receive a miniature trophy as a keepsake, continuing BorgWarner's cherished tradition in motorsports.
BorgWarner Inc. (NYSE: BWA) has priced a public offering of €1.0 billion of 1.00% Senior Notes due in 2031. The company expects to net approximately €981 million after expenses. Proceeds will primarily be used to redeem €500 million of its existing 1.80% Senior Notes due in November 2022, with the remainder supporting general corporate purposes and financing the acquisition of AKASOL AG. The offering’s close is anticipated on May 19, 2021, pending customary conditions.
BorgWarner Inc. (BWA) reported a strong first quarter 2021, with net sales of $4,009 million, a 76% increase from last year. Adjusted net earnings per diluted share rose to $1.21, up from $0.77 in Q1 2020. The acquisition of Delphi Technologies significantly contributed to this growth. Operating cash flow was $342 million, and free cash flow reached $147 million. For 2021, the company anticipates net sales of $14.8 to $15.4 billion, driven by market recovery and the strengthening of foreign currencies, with adjusted net earnings projected between $4.00 and $4.35 per diluted share.