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. (NYSE: BWA) is a motor vehicle parts manufacturer that regularly issues news on mobility technologies, electrification programs, financial performance, and corporate developments. Its press releases highlight contracts with global original equipment manufacturers, new product awards, and updates on its transition toward electrified and hybrid propulsion systems, alongside information on dividends and earnings.
Investors and industry followers can use this news feed to review announcements about BorgWarner’s battery systems for fully electric and autonomous shuttles, integrated drive modules for hybrid SUVs, dual inverters for hybrid and plug-in hybrid vehicles, electric motors for new energy vehicles, and high-voltage coolant heaters for plug-in hybrid platforms. The company also reports on all-wheel drive technologies, such as torque-on-demand transfer cases and Cross Wheel Drive systems, as well as turbocharger contracts for hybrid SUV engines and other combustion-related components.
Financial updates are another key element of BorgWarner’s news. The company publishes quarterly earnings releases, guidance ranges, and details on capital allocation, including share repurchases and quarterly cash dividends declared by its Board of Directors. Selected 8-K filings reference these releases and provide context on how the company presents adjusted operating margins, earnings per share, and non-comparable items.
In addition, BorgWarner’s news includes items related to legal settlements, spin-off-related matters, and its longstanding association with the Borg-Warner Trophy for the Indianapolis 500. Readers interested in BWA news can follow this page to review the company’s own descriptions of its contracts, technologies, financial results, and brand-related activities over time.
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 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 has been recognized on USA TODAY's list of America's Best Climate Leaders 2024. This award is presented by USA TODAY and Statista Inc. and honors companies for their climate leadership based on a comprehensive two-step process involving application, research, and data analysis.
Criteria for inclusion included being headquartered in the USA, revenue of at least $50 million in 2022, independent emission reporting, and a broader environmental record. BorgWarner's recognition highlights their commitment to environmental sustainability across their business operations, including their strategy to increase production of electric and hybrid vehicle components.
Volker Weng, Vice President of BorgWarner and Environmental Sustainability Lead, emphasized the company's dedication to creating a cleaner, energy-efficient world through sustainable practices in production, materials, and partnerships.
BorgWarner (NYSE: BWA) has announced the promotion of Joseph Fadool to Executive Vice President and Chief Operating Officer, effective July 1, 2024. Fadool, currently Vice President and President and GM of Emissions, Thermal, and Turbo Systems, will oversee company operations, with business unit presidents reporting to him. The company also revealed a restructured business unit system to support its Charging Forward strategy, aiming to boost operational agility and efficiency. The new units are Emissions, Thermal and Turbo Systems, Drivetrain and Morse Systems, PowerDrive Systems, and Battery and Charging Systems. The reorganization will also align with the company's financial reporting segments starting July 1, 2024.
Josef Newgarden won the 2024 Indianapolis 500, securing his second consecutive win by passing Pato O'Ward on the final lap. Newgarden received the Borg-Warner Trophy® and a $440,000 rolling jackpot, resetting the pot for 2025. The race featured 49 lead changes among 18 drivers and was attended by 300,000 fans. This victory also marked team owner Roger Penske's 20th win in the event's history. BorgWarner's EFR™ turbochargers have powered all NTT INDYCAR SERIES® racecars since 2012.