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 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.
BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share, to be paid on June 15, 2021. Stockholders recorded by June 1, 2021 will be eligible for this dividend. The company, a global leader in clean technology solutions for combustion, hybrid, and electric vehicles, operates 96 facilities across 24 countries with approximately 50,000 employees. This dividend reflects BorgWarner's ongoing commitment to returning value to shareholders while maintaining a strong operational presence worldwide.
BorgWarner, a leading global provider of clean technology solutions for vehicles, has achieved the Great Place to Work-Certified™ status for the second consecutive year. This certification, based on rigorous employee feedback, indicates that 70% of employees report a positive experience at the company. Chief Human Resources Officer, Felecia Pryor, emphasized the company's commitment to a collaborative and inclusive workplace. This recognition reinforces BorgWarner's focus on fostering a trusting workplace culture, which is linked to enhanced business performance.
BorgWarner Inc. (NYSE:BWA) announced its Project CHARGING FORWARD at its Investor Day, aiming to increase electric vehicle revenue from less than 3% today to about 45% by 2030. The strategy focuses on scaling electric light vehicles, expanding into the electric commercial sector, and optimizing its combustion portfolio. The company expects to generate approximately $4.5 billion in free cash flow from 2021-2025, while committing to carbon neutrality by 2035. BorgWarner plans to leverage its decentralized structure and competitive advantages in technology to succeed in this electrification transition.
BorgWarner Inc. (NYSE: BWA) will host an Investor Day on March 23, 2021, from 9:00 a.m. to 12:00 p.m. EDT, broadcast from its World Headquarters in Auburn Hills, Michigan. Senior leadership will present insights into the company's technologies and its strategic positioning in the electrification domain. The event aims to engage the investment community and showcase BorgWarner's advancements in clean and efficient technology solutions for vehicles. Additional details can be found on their IR website.
BorgWarner has announced a $1,025,000 donation to Kettering University, establishing the BorgWarner Scholars Program aimed at supporting scholarships for underrepresented students, particularly African American and Hispanic individuals, pursuing engineering. The initiative will provide nearly $40,000 annually in scholarships, focusing on those in financial need and offering co-op positions at BorgWarner for real-world experience. This commitment reflects BorgWarner's dedication to fostering diversity within the STEM workforce. The donation includes an additional $100,000 to broaden university initiatives for corporate sponsorships.
BorgWarner Inc. (NYSE:BWA) will host a virtual Investor Day on March 23, 2021, from 9:00 a.m. to 12:00 p.m. (EDT), broadcast from its headquarters in Auburn Hills, Michigan. The event will feature presentations by senior leadership, offering insights into the company's technologies and its strategic positioning in an electrified world. More details can be found on the investor relations website at borgwarner.com/investors.
BorgWarner celebrated Takuma Sato's induction as the 107th face on the Borg-Warner Trophy for his second Indianapolis 500 victory in 2020 during a ceremony at the Indianapolis Motor Speedway Museum. The trophy, commissioned in 1935, honors each winner with a life-like sculpture. Sato praised the artistic process that captures his personality in sterling silver. Despite the pandemic impacting the 104th Indy 500, Sato led 27 laps and averaged 157.824 mph. Later, he will receive a miniature replica trophy, and Rahal Letterman Lanigan Racing will also receive recognition for their contribution.
BorgWarner (NYSE: BWA) has signed a Business Combination Agreement with AKASOL AG (ETR: ASL) to enhance its commercial vehicle electrification capabilities. A wholly-owned subsidiary of BorgWarner will launch a public takeover offer at €120.00 per share for AKASOL, valuing the company at approximately €754 million, including €27 million in debt. Approximately 59% of AKASOL's shareholders have committed to accept the offer. The acquisition aims to strengthen BorgWarner's position in the growing electric commercial vehicle market, with the deal expected to close in late Q2 2021.