One way that companies increase shareholder value is through stock buybacks. This is a process in which a company reduces the number of outstanding shares available to investors and increases the company's earnings per share. Investors will hear the term share repurchases used synonymously with stock buybacks. Stock buybacks are one action that a company takes when it believes its stock is undervalued. Generally, stock prices rise after buybacks because investors become more bullish on the stock's prospects ...

AUBURN HILLS, Mich., Aug. 16, 2024 /PRNewswire/ -- BorgWarner has been named a winner in PR Daily's Social Media & Digital Awards in both the LinkedIn and Twitter/X categories. PR Daily's Social Media & Digital Awards celebrates the organizations, people and teams that know how to earn audience attention online. They are continuing to advance the fields of social media and digital communications, leading to success for their organizations or clients. BorgWarner has been named a winner in PR Daily's Social M ...

AUBURN HILLS, Mich., Aug. 14, 2024 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) (the "Company") today announced the expiration and final results of its previously announced tender offers (the "Tender Offers") to purchase for cash any and all of the Company's outstanding 3.375% Senior Notes due 2025 (the "3.375% Notes") and 5.000% Senior Notes due 2025 (the "5.000% Notes" and collectively with the 3.375% Notes, the "Notes"), on the terms and conditions set forth in the Offer to Purchase, dated August 7, 2024 ...

AUBURN HILLS, Mich., Aug. 13, 2024 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) (the "Company") today announced that it has priced the previously announced tender offers (the "Tender Offers") to purchase for cash any and all of the Company's outstanding 3.375% Senior Notes due 2025 and 5.000% Senior Notes due 2025 (collectively, the "Notes"). All terms and conditions set forth in the Offer to Purchase, dated August 7, 2024 (the "Offer to Purchase") and the related Notice of Guaranteed Delivery attached to th ...

AUBURN HILLS, Mich., Aug. 7, 2024 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) ("BorgWarner" or the "Company") announced today it priced a public offering of $500 million aggregate principal amount of its 4.950% Senior Notes due 2029 (the "2029 Notes") and $500 million aggregate principal amount of its 5.400% Senior Notes due 2034 (the "2034 Notes" and, together with the 2029 Notes, the "Senior Notes"). The Company expects that it will receive approximately $987 million of net proceeds from the offering afte ...

AUBURN HILLS, Mich., Aug. 7, 2024 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) (the "Company") today announced that it has commenced tender offers to purchase for cash the debt securities issued by the Company listed in the table below (collectively, the "Notes," and each a "series"). | --- | --- | --- | --- | --- | --- | |------------------------------|-----------------------|------------------------------|-----------------------------------------|--------------------------|--------------| | Title of Securi ...

Financial Performance - Net sales for the three months ended June 30, 2024, were $3,603 million, a decrease of 1.8% compared to $3,671 million for the same period in 2023[11]. - Gross profit for the three months ended June 30, 2024, was $685 million, compared to $680 million for the same period in 2023, reflecting a slight increase[11]. - Operating income for the three months ended June 30, 2024, was $297 million, down from $333 million in the same period last year, indicating a decrease of 10.8%[11]. - Net earnings attributable to BorgWarner Inc. for the three months ended June 30, 2024, were $303 million, compared to $204 million for the same period in 2023, representing an increase of 48.5%[11]. - Earnings per share attributable to BorgWarner Inc. for the three months ended June 30, 2024, were $1.34, up from $0.88 in the same period last year, marking a growth of 52.3%[11]. - Comprehensive income attributable to BorgWarner Inc. for the three months ended June 30, 2024, was $259 million, compared to $135 million for the same period in 2023, reflecting a 92.6% increase[13]. - Net earnings from continuing operations for the six months ended June 30, 2024, were $557 million, compared to $427 million for the same period in 2023, representing a 30.5% increase[148]. Assets and Liabilities - Total assets as of June 30, 2024, were $14,108 million, a decrease from $14,453 million as of December 31, 2023[8]. - Total liabilities as of June 30, 2024, were $7,823 million, down from $8,387 million as of December 31, 2023, indicating a reduction of 6.7%[8]. - Cash and cash equivalents as of June 30, 2024, were $1,288 million, compared to $1,534 million as of December 31, 2023, reflecting a decrease of 16.1%[8]. - The net goodwill balance decreased to $2,965 million as of June 30, 2024, from $3,013 million on December 31, 2023, reflecting a reduction of 1.6%[79]. - The total product warranty liability increased to $204 million as of June 30, 2024, compared to $196 million on December 31, 2023, marking a growth of 4.1%[84]. Cash Flow and Operating Activities - Net cash provided by operating activities of continuing operations was $344 million for the six months ended June 30, 2024, up from $289 million in the same period of 2023, indicating an increase of 19.1%[15]. - Cash, cash equivalents, and restricted cash at the end of the period were $1,288 million, compared to $848 million at the end of the same period in 2023, showing a significant increase of 51.8%[15]. Acquisitions and Investments - The company completed the acquisition of Eldor Corporation's electric hybrid systems business for €72 million ($78 million) and may pay up to €175 million ($191 million) in earn-out payments based on future business performance[25]. - The acquisition of Hubei Surpass Sun Electric's electric vehicle solution business was completed for ¥288 million ($42 million), enhancing the company's presence in China[29]. - The total consideration for the acquisition of Drivetek AG was ₣37 million ($39 million), including ₣10 million ($10 million) of estimated earn-out payments[32]. - The company paid $131 million at closing for the acquisition of Rhombus Energy Solutions, with up to $30 million of earn-out payments contingent upon achieving specific sales and gross margin targets[34]. - The total final consideration for the acquisition of Santroll Automotive Components was $192 million, including approximately ¥1.0 billion ($152 million) of base purchase price[36]. Research and Development - Gross R&D expenditures for the three months ended June 30, 2024, were $220 million, an increase from $213 million in the same period of 2023[65]. - Net R&D expenditures for the six months ended June 30, 2024, were $376 million, compared to $349 million for the same period in 2023[65]. Taxation - The company recorded a discrete tax benefit of $89 million during the three months ended June 30, 2024, related to unrecognized tax benefits[69]. - The effective tax rate for the six months ended June 30, 2024, was 5%, a decrease from 19% for the same period in 2023[70]. Segment Performance - Net sales for the Air Management segment reached $1,974 million for the three months ended June 30, 2024, compared to $2,027 million in the same period of 2023, indicating a slight decline of 2.6%[145]. - The Drivetrain & Battery Systems segment reported net sales of $1,196 million for the three months ended June 30, 2024, consistent with the previous year[145]. - The ePropulsion segment achieved net sales of $464 million for the three months ended June 30, 2024, compared to $566 million in the same period of 2023, a decrease of 18.0%[145]. - For the six months ended June 30, 2024, Air Management segment net sales were $4,004 million with a Segment Adjusted Operating Income of $612 million and a margin of 15.3%[203]. - Drivetrain & Battery Systems segment net sales for the six months ended June 30, 2024, were $2,355 million, with Segment Adjusted Operating Income of $334 million and a margin of 14.2%[203]. - ePropulsion segment net sales for the six months ended June 30, 2024, were $900 million, resulting in a Segment Adjusted Operating Loss of $111 million and a margin of (12.3)%[203]. Restructuring and Expenses - The company reported a restructuring expense of $25 million for the three months ended June 30, 2024, compared to $9 million in the same period last year[11]. - The company’s restructuring expenses for the six months ended June 30, 2024, totaled $44 million, including $30 million in employee termination benefits[51]. - The Company approved a $75 million restructuring plan in June 2024 for its ePropulsion segment due to increased market volatility[58]. - A restructuring plan announced in 2023 is expected to yield annual savings of $80 million to $90 million by 2027, with $130 million to $150 million allocated for the initiative[178]. Stockholder Information - Total stockholders' equity as of June 30, 2024, was $6,285 million, a decrease from $6,042 million as of March 31, 2024[125]. - Dividends declared for the three months ended June 30, 2024, were $25 million, reflecting a dividend of $0.11 per share[125]. - The balance of retained earnings as of June 30, 2024, was $6,620 million, down from $6,325 million as of March 31, 2024[125].

BorgWarner Inc. (NYSE:BWA) Q2 2024 Earnings Conference Call July 31, 2024 9:30 AM ET Company Participants Patrick Nolan - Vice President of Investor Relations Frédéric Lissalde - President & Chief Executive Officer Craig Aaron - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Colin Langan - Wells Fargo Chris McNally - Evercore Joe Spak - UBS Dan Levy - Barclays Mark Delaney - Goldman Sachs Adam Jonas - Morgan Stanley James Picariello - BNP Paribas Operator Good morning, ev ...

10 Countries eProduct Growth eProduct Profitability Maximize Foundational Value $2.5-$2.8B 2024E eProduct Sales Guidance ▪ 88% of 2022 sales from clean and emissionsreducing products ▪ Commitment to carbon neutrality by 2035 ▪ 338 engineers enrolled in three cohorts Combustion Combustion + Advanced Hybrid Resilient Product Portfolio Well-Positioned for Growth Believe Foundational Portfolio Positioned for Outgrowth 11 | --- | --- | --- | --- | --- | --- | |--------|--------|---------------------------------| ...

BorgWarner (BWA) came out with quarterly earnings of $1.19 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $1.35 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 21.43%. A quarter ago, it was expected that this auto parts supplier would post earnings of $0.87 per share when it actually produced earnings of $1.03, delivering a surprise of 18.39%. Over the last four quarters, the c ...