Joseph Fadool, EVP and COO, to Become President and CEO effective close of business on February 6, 2025 Frédéric Lissalde to Retire AUBURN HILLS, Mich., Nov. 7, 2024 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) ("the Company") today announced that its Board of Directors approved a leadership succession plan whereby Joseph Fadool, BorgWarner's Executive Vice President and Chief Operating Officer, has been appointed President and Chief Executive Officer and a member of BorgWarner's Board of Directors effectiv ...

Financial Data and Key Metrics Changes - BorgWarner reported Q3 organic sales of over $3.4 billion, down approximately 5% year-over-year, slightly outperforming a 6% decline in the market [7][26] - The adjusted operating margin for the quarter was 10.1%, which is 50 basis points higher than the previous year [9][30] - Earnings per share (EPS) increased by $0.11 year-over-year to $1.09, driven by strong operational performance and cost controls [9][32] - Free cash flow for the quarter was $201 million, up $165 million from the previous year [32] Business Line Data and Key Metrics Changes - The turbos and thermal technologies and drivetrain segments each represent approximately 40% of net sales, with strong margins and cash flow profiles [18][21] - The remaining 20% of net sales comes from the Power Drive Systems and battery and charging systems business units, which are expected to be significant growth drivers [20] Market Data and Key Metrics Changes - BorgWarner's sales to Chinese local OEMs accounted for roughly 15% of overall net sales, comparable to sales to German OEMs and North American sales to the Detroit 3 [21] - The company expects to outgrow market production by 200 to 300 basis points in 2024, despite a reduction in overall sales guidance due to lower market production outlook [33][34] Company Strategy and Development Direction - The company remains focused on propulsion efficiency, including both combustion fuel efficiency and electric vehicle (EV) efficiency, which is expected to drive growth [24] - BorgWarner aims to manage its cost structure effectively while preserving long-term profitable growth and product leadership [25] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the technology-focused portfolio, which is positioned to outgrow market production [8][33] - The company anticipates a challenging production environment but remains committed to delivering strong profitability and free cash flow [39] Other Important Information - BorgWarner completed a planned $400 million stock repurchase in 2024, reflecting strong cash generation and capital deployment [10][40] - The company has secured multiple new product awards, including contracts in the electric vehicle market, which support long-term growth [8][13] Q&A Session Summary Question: Thoughts on margin outlook and potential to exceed 10% target - Management acknowledged strong operational performance and cost controls, indicating a focus on maintaining margins around 9.6% for the fourth quarter [46][48] Question: Decomposition of margin performance in Q3 - Management attributed strong margin performance to restructuring actions and cost controls, with a one-time benefit from customer recoveries [54] Question: Growth profile of the battery business - Management indicated strong demand and aligned capacity to meet market needs, expecting continued growth in the battery segment [57] Question: Impact of market dynamics on future bookings - Management noted a slowdown in new quoting activities for electrified powertrains but emphasized ongoing opportunities in combustion and hybrid segments [68] Question: Competitive advantages in the commercial vehicle battery business - Management highlighted the company's unique position in the commercial vehicle market, focusing on software, cybersecurity, and assembly capabilities [90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q QUARTERLY REPORT (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: 1-12162 BORGWARNER INC. ________________________________________________ (Exact name of registrant as specified ...

BORGWARNER Q3 2024 Earnings Call Presentation October 31, 2024 This presentation may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "p ...

BorgWarner Inc. (BWA) reported adjusted earnings of $1.09 per share for third-quarter 2024, up from 98 cents recorded in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of 92 cents. The automotive equipment supplier reported net sales of $3.45 billion, which missed the Zacks Consensus Estimate of $3.53 billion. The top line also declined 5% year over year.Stay up-to-date with the quarterly releases: See Zacks Earnings Calendar.Segmental PerformanceEffective July 1, 2024, ...

BorgWarner (BWA) came out with quarterly earnings of $1.09 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.48%. A quarter ago, it was expected that this auto parts supplier would post earnings of $0.98 per share when it actually produced earnings of $1.19, delivering a surprise of 21.43%.Over the last four quarters, the co ...

Exhibit 99.1 Immediate Release Contact: Patrick Nolan 248.754.0884 BorgWarner Reports Third Quarter 2024 Results Increases Full-Year Adjusted Operating Margin and EPS Guidance Completes $400 Million Share Repurchase Plan Auburn Hills, Michigan, October 31, 2024 – BorgWarner Inc. (NYSE: BWA) today reported third quarter results. Third Quarter and 2024 Guidance Update • BorgWarner achieved an adjusted operating margin of 10.1% during the third quarter, which equated to a U.S. GAAP operating margin of 7.8%. Th ...

BorgWarner's HVCH selected by a Chinese OEM for a battery electric SUV, start of production set for Q2 2025 Korean electric vehicle manufacturer chose BorgWarner's heater for their new electric pick-up model, with production starting in Q1 2025 BorgWarner wins its first HVCH business award with a Japanese OEM, marking a key milestone in the company's expansion into Japan's growing electric vehicle market AUBURN HILLS, Mich., Oct. 31, 2024 /PRNewswire/ -- BorgWarner has secured three significant business wi ...

Company to supply two types of two-speed transfer cases: Electro-Mechanical On-Demand (EMOD) and Electric Shift-on-the-Fly (ESOF) Builds on over 40 years of BorgWarner transfer case supply for the OEM's passenger truck platform High-performance solutions deliver quick response, improved torque performance AUBURN HILLS, Mich., Oct. 31, 2024 /PRNewswire/ -- BorgWarner, a global product leader in delivering innovative and sustainable mobility solutions, is furthering its business with a major North American O ...

AUBURN HILLS, Mich., Oct. 31, 2024 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) today reported third quarter results. Third Quarter and 2024 Guidance Update BorgWarner achieved an adjusted operating margin of 10.1% during the third quarter, which equated to a U.S. GAAP operating margin of 7.8%. The Company also generated net cash provided by operating activities of $356 million or $201 million in free cash flow, despite a 5.6% decline in the Company's weighted light and commercial vehicle markets. The Compan ...