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 announced a rolling jackpot of $360,000 for the next back-to-back winner of the Indianapolis 500, increasing the prize by $20,000 each year. Established in 1995, the jackpot has only been won once, by Helio Castroneves in 2002. The 2020 race is set for Aug. 23, where reigning champion Simon Pagenaud will compete for the jackpot. If he is victorious, the jackpot resets to $20,000. Winners receive their likeness on the Borg-Warner Trophy and a miniature version, known as the Baby Borg.
BorgWarner is developing an Integrated Drive Module (iDM) for Ford's all-electric Mustang Mach-E SUV, featuring a comprehensive thermal-management system, gearbox, motor, and power electronics. This innovative design enhances system integration and efficiency, addressing the growing demand for high-performance electric vehicles. With a capacity of 4,278 Nm of axle torque and input speeds up to 13,800 rpm, the iDM is optimized for smooth operation. Production is set to commence this year for both rear-wheel and all-wheel-drive configurations, showcasing BorgWarner's partnership with Ford in electrification.
BorgWarner Inc. (NYSE: BWA) reported a significant second quarter net sales decline of 44%, totaling $1,426 million, primarily due to COVID-19 disruptions. The net loss was $(98) million, or $(0.47) per diluted share, compared to a net income of $172 million, or $0.83 per diluted share in Q2 2019. Adjusted net loss per share was $(0.14), down from $1.00 in the previous year. The company projects full-year net sales of $8.0 billion to $8.4 billion, reflecting an expected organic sales decrease of 16% to 20%. Operating cash flow is estimated between $700 million and $850 million.
BorgWarner Inc. (NYSE: BWA) has declared a quarterly cash dividend of $0.17 per share, payable on September 15, 2020 to shareholders on record as of September 1, 2020. This decision reflects the company’s commitment to returning value to its shareholders. Known for its innovative technology solutions in the automotive sector, BorgWarner operates globally with approximately 29,000 employees across 67 locations in 19 countries, emphasizing sustainability in combustion, hybrid, and electric vehicle technologies.
BorgWarner has commenced supplying its high-performance electric drive modules (eDM) to three Chinese new energy vehicles: the JMC-Ford Territory, AIWAYS SUV U5, and Leading Ideal One. The eDM is lightweight, compact, and designed for high integration and operational efficiency, delivering over 95% efficiency. For the Territory, it provides 120kW and 280Nm torque; the U5 offers 120kW and 315Nm; while the Leading Ideal One delivers 140kW and 290Nm. Production has started in Beijing and Wuhan.
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