Borgwarner Inc Stock Price, News & Analysis

BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share on November 11, 2020. The dividend will be paid on December 15, 2020, to shareholders recorded on December 1, 2020. This reflects BorgWarner's commitment to returning value to its investors. BorgWarner is a leader in clean and efficient technology solutions for various vehicle types and operates in 99 locations across 24 countries, employing approximately 48,000 people worldwide.

BorgWarner reported third-quarter 2020 net sales of $2,534 million, up 2% year-over-year, despite lower industry production volumes. Net earnings were $111 million or $0.53 per diluted share, down from $194 million or $0.94 per diluted share in Q3 2019. Adjusted earnings per diluted share fell to $0.88. The company anticipates fourth-quarter sales between $3.46 billion and $3.61 billion, driven by the Delphi Technologies acquisition. For the full year, net sales are expected to be $9.7 billion to $9.85 billion, reflecting a decline due to COVID-19 disruptions.

BorgWarner Inc. (NYSE: BWA) will host a webcast for its 2020 Third Quarter Results Conference Call on October 29, 2020, at 9:30 AM ET. Investors can join the live event and access it online at BorgWarner Investors. If unable to attend, the session will be archived for later viewing. BorgWarner specializes in clean and efficient technology solutions for combustion, hybrid, and electric vehicles, operating in 99 locations across 24 countries with approximately 48,000 employees.

BorgWarner is collaborating with Michigan Technological University and four industry partners on a new project to reduce energy consumption through advanced vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication. Funded by the U.S. Department of Energy with $1.99 million, this 27-month initiative aims to enhance energy optimization across various vehicle types. The project will capitalize on BorgWarner's propulsion expertise, with extensive vehicle testing planned at the American Center for Mobility in Ypsilanti, Michigan.

BorgWarner Inc. (NYSE: BWA) reported that approximately $776.3 million of the 5.000% Senior Notes due 2025 from Delphi Technologies were accepted in a recent exchange offer, representing 97.04% of the total outstanding. The offer was part of BorgWarner's acquisition strategy for Delphi Technologies and was completed on October 1, 2020. Eligible holders who tendered their notes by the early deadline received BorgWarner Notes and cash consideration. The amendments to the indenture are effective, and the new notes will have similar terms to the original DT Notes.

BorgWarner Inc. announced the appointment of Nelda J. Connors and David S. Haffner to its Board of Directors as of October 2, 2020. Connors, founder of Pine Grove Holdings, brings extensive expertise in operations and financial management, while Haffner, former CEO of Leggett & Platt, contributes significant experience in manufacturing operations and compensation strategy. Their appointments follow BorgWarner's recent acquisition of Delphi Technologies, solidifying the board's focus on advancing clean and efficient technology solutions for automotive applications.

BorgWarner Inc. (NYSE: BWA) has successfully completed its acquisition of Delphi Technologies as of Oct. 2, 2020. This strategic move aims to enhance BorgWarner's capabilities in electrified propulsion systems, building a stronger portfolio in electronics and power electronics products. The integration is expected to boost BorgWarner's combustion, commercial vehicle, and aftermarket sectors. Following shareholder approval and regulatory clearances, Delphi's stock will no longer be traded on the NYSE. The leadership expects significant benefits for shareholders and a seamless transition amidst pandemic challenges.

BorgWarner's Supply Chain Manager, Kelly Zhu, has received the Women in Manufacturing STEP Ahead Award for exceptional leadership, marking her as one of 100 honored women this year. Zhu's career at BorgWarner began in Ningbo, China, where she progressed from a warehouse supervisor to her current managerial role. Over the years, she has taken on increasing responsibilities and actively participates in training programs to foster employee development. Zhu is also involved in a Junior Achievement program to inspire youth in business and manufacturing. The recognition ceremony occurred on September 24, 2020.