Borgwarner Inc Stock Price, News & Analysis

BorgWarner Inc. (NYSE: BWA) has announced cash tender offers for its senior notes. The company is offering to purchase any and all of its outstanding 3.375% Senior Notes due 2025 and 5.000% Senior Notes due 2025. The tender offers will expire at 5:00 p.m., New York City time, on August 13, 2024, unless extended or terminated earlier.

The consideration for each $1,000 principal amount of Notes will be determined based on a fixed spread plus the applicable yield to maturity on the U.S. Treasury Reference Security. The maximum consideration is capped at $1,000 for the 3.375% Notes and $1,010 for the 5.000% Notes. BorgWarner expects the Settlement Date to occur on August 16, 2024.

The tender offers are subject to certain conditions, including a financing condition. BofA Securities, Citigroup Global Markets, and Wells Fargo Securities are acting as dealer managers for the tender offers.

BorgWarner, a global leader in sustainable mobility solutions, has secured a contract to supply its high-voltage eFan system for a major global OEM's heavy- and medium-duty battery electric vehicles (BEVs) in North America. This marks BorgWarner's largest eFan business win in the region, with production starting in Q4 2027. The eFan system, comprising a fan, e-motor, and integrated high-voltage inverter, can reach up to 10 kW power and 40 Nm torque. It offers best-in-class noise, vibration, and harshness (NVH) performance, operates in temperatures from -40°C to 80°C, and supports voltage ranges of 550V-850V. The system's modular design allows for scalability, and its liquid-cooled components ensure long-term reliability.

BorgWarner has secured contracts to supply its electric cross differential (eXD) to three major OEMs: GAC Motor, a Global East Asian OEM, and a Global OEM based in Europe. The eXD technology will be used in battery electric vehicles (BEVs) ranging from sports cars to premium sedans and hatchbacks. Production for GAC Motor is already underway, with others starting in 2026.

The eXD, part of BorgWarner's electric torque management system (eTMS) portfolio, improves vehicle traction, handling, and stability by intelligently controlling wheel torque. It addresses challenges in EV performance caused by high motor torque. The technology is applicable to all architectures and offers customizable performance characteristics. BorgWarner's eXD also enhances driving safety and optimizes energy consumption in difficult driving conditions.

BorgWarner, a global leader in sustainable mobility solutions, has secured contracts to supply exhaust gas recirculation (EGR) coolers to a major North American commercial vehicle customer. The company will provide two variations of its durable EGR cooler, featuring proprietary compact floating core (CFC) and compact monoblock architecture. These technologies offer high reliability, extended product life, and optimized internal design requiring less coolant flow from the engine.

The contracts highlight BorgWarner's strong customer relationships and technological leadership in the market. Production is set to begin in Q4 2027, with implementation across various commercial vehicle applications. The EGR coolers support increased fuel economy needs and help meet stringent emission requirements worldwide.

BorgWarner Inc. (NYSE: BWA) reported strong Q2 2024 results, with an adjusted operating margin of 10.4% and U.S. GAAP operating margin of 8.2%. The company generated $462 million in net cash from operations and $297 million in free cash flow. BorgWarner increased its full-year adjusted operating margin guidance by 30 basis points and adjusted EPS guidance by $0.07 per share. However, it reduced full-year net sales guidance by $400 million due to lower market production outlook and slower eProduct sales growth. The company plans to repurchase $300 million of outstanding shares in H2 2024. BorgWarner also announced a new business unit structure and restructuring of its ePropulsion segment, expecting annual cost savings of $100 million by 2026.

BorgWarner (NYSE: BWA) announces its 2024 Second Quarter Results Conference Call on July 31, 2024, at 9:30 AM ET, available via live webcast at www.borgwarner.com/investors.

The company, with over 130 years of experience, emphasizes its commitment to advancing eMobility for a cleaner, healthier, and safer future. If you miss the live event, an archived version will be accessible.

For further details, visit their website.

BorgWarner Inc. (NYSE: BWA), a global leader in mobility innovation, has announced a quarterly cash dividend of $0.11 per share of common stock. The dividend will be payable on September 16, 2024, to stockholders of record on September 3, 2024. This declaration was made by the company's Board of Directors on July 23, 2024.

BorgWarner, with a history spanning over 130 years, is known for its transformative role in the automotive industry. The company is currently focused on accelerating the world's transition to eMobility, aiming to contribute to a cleaner, healthier, and safer future for all.

BorgWarner has unveiled its 2024 Sustainability Report, emphasizing significant progress in its sustainability efforts. Key achievements include earning 87% of revenue from EV and hybrid products, and a 32% reduction in Scope 1 and 2 GHG emissions from a 2021 baseline, targeting an 85% reduction by 2030. The company also aims to cut Scope 3 emissions by 25% by 2030. Additionally, solar power installations at nine sites led to a 48% increase in renewable energy use since 2022, and they achieved a 92.8% waste diversion rate, exceeding their 85% goal. BorgWarner filled 64% of leadership roles internally in 2023, surpassing its 50% target, and invested over $3.6 million in employee training. The company's supplier sustainability engagement reached 81.6%, beyond its set goal. CEO Frédéric Lissalde praised the team's dedication to cleaner mobility and sustainability.

For more details, visit the full report at www.borgwarner.com/company/sustainability.

BorgWarner (NYSE: BWA) has announced its 2024 second quarter results conference call scheduled for July 31, 2024, at 9:30am Eastern Time. The call will be accessible via webcast on their investor relations website. For those unable to join live, a recording will be available post-event.

BorgWarner, a company with over 130 years of history, has been a leader in mobility innovation. They are currently focusing on accelerating the global transition to eMobility, aiming for a cleaner and safer future.