BorgWarner Inc. is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 96 locations in 24 countries, the Company employs approximately 50,000 worldwide.

Company profile
Ticker
BWA
Exchange
Website
CEO
Frederic Lissalde
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Icahn Enterprises • Icahn Enterprises • Magna International • Adient • Aptiv • Lear • Autoliv • Dana • Allison Transmission • Visteon ...
Former names
BORG WARNER AUTOMOTIVE INC
SEC CIK
Corporate docs
Subsidiaries
ABBA BidCo AG • AKASOL AG • AKASOL Inc. • AS Catalizadores Ambientales, S. de R.L. de C.V. • B80 Italia S.r.l. • Beijing Delphi Technology Development Co., Ltd. • Beijing Delphi Wan Yuan Engine Management Systems Co., Ltd. • BorgWarner (Changnyeong) LLC • BorgWarner (China) Investment Co., Limited • BorgWarner (Reman) Holdings L.L.C. ...
IRS number
133404508
BWA stock data
News

What 7 Analyst Ratings Have To Say About BorgWarner
4 Aug 22
Morgan Stanley Maintains Underweight on BorgWarner, Raises Price Target to $32
4 Aug 22
RBC Capital Maintains Sector Perform on BorgWarner, Raises Price Target to $48
4 Aug 22
Baird Maintains Outperform on BorgWarner, Raises Price Target to $44
4 Aug 22
Citigroup Maintains Neutral on BorgWarner, Raises Price Target to $45
4 Aug 22
Press releases
BorgWarner Secures Two Additional High-Voltage Coolant Heater Technology Wins
3 Aug 22
First BorgWarner Fast Charging Stations Installed in Italy
3 Aug 22
BorgWarner Selected to Deliver Battery System for Electric Commercial Vehicle
3 Aug 22
BorgWarner Acquires Rhombus Energy Solutions
3 Aug 22
BORGWARNER ANNOUNCES ELECTRIFICATION PROGRESS AND REPORTS SECOND QUARTER RESULTS
3 Aug 22
Analyst ratings and price targets
Current price
Average target
$45.67
Low target
$32.00
High target
$57.00
Morgan Stanley
Maintains
$32.00
RBC Capital
Maintains
$48.00
Baird
Maintains
$44.00
Citigroup
Maintains
$45.00
Deutsche Bank
Upgraded
$48.00
Wells Fargo
Maintains
$57.00
Calendar
3 Aug 22
9 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
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Net income | |||||
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Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 1.39B | 1.39B | 1.39B | 1.39B | 1.39B | 1.39B |
Cash burn (monthly) | 38M | 14.83M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 50.95M | 19.89M | n/a | n/a | n/a | n/a |
Cash remaining | 1.34B | 1.37B | n/a | n/a | n/a | n/a |
Runway (months of cash) | 35.2 | 92.4 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
20 Jul 22 | Daniel Etue | Common Stock | Payment of exercise | Dispose F | No | No | 36.18 | 858 | 31.04K | 13,198.16 |
1 Jun 22 | Tonit M Calaway | Common Stock | Sell | Dispose S | No | No | 40.271 | 17,543 | 706.47K | 40,380.17 |
17 May 22 | Tonit M Calaway | Common Stock | Sell | Dispose S | No | No | 38.7539 | 4,000 | 155.02K | 57,923.17 |
27 Apr 22 | Shaun McAlmont | Common Stock | Grant | Acquire A | No | No | 36.72 | 4,085 | 150K | 7,091.01 |
Institutional ownership, Q1 2022
13F holders | Current |
---|---|
Total holders | 596 |
Opened positions | 64 |
Closed positions | 86 |
Increased positions | 247 |
Reduced positions | 209 |
13F shares | Current |
---|---|
Total value | 8.49B |
Total shares | 218.46M |
Total puts | 920.26K |
Total calls | 614.1K |
Total put/call ratio | 1.5 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 26.13M | $1.02B |
BLK Blackrock | 21.53M | $837.61M |
STT State Street | 10.14M | $394.38M |
Victory Capital Management | 10.11M | $393.16M |
Harris Associates L P | 10.07M | $391.7M |
FMR | 6.87M | $267.28M |
Diamond Hill Capital Management | 6.83M | $265.86M |
Dimensional Fund Advisors | 6.49M | $252.64M |
American Century Companies | 5.97M | $232.3M |
Geode Capital Management | 4.78M | $185.67M |
Financial report summary
?Risks
- The Company faces risks related to the COVID-19 pandemic that could adversely affect its business and financial performance.
- The Company’s Charging Forward strategy may prove unsuccessful.
- The failure to realize the expected benefits of acquisitions and other risks associated with acquisitions could adversely affect the Company’s business.
- The Company may not be able to execute dispositions of assets or businesses successfully.
- Goodwill and indefinite-lived intangible assets, which are subject to periodic impairment evaluations, represent a significant portion of the Company’s total assets. An impairment charge on these assets could have a material adverse impact on its financial condition and results of operations.
- Conditions in the automotive industry may adversely affect the Company’s business.
- The Company faces strong competition.
- If the Company does not respond appropriately, the evolution of the automotive industry could adversely affect its business.
- The Company is under substantial pressure from OEMs to reduce the prices of its products.
- The Company continues to face volatile costs of commodities used in the production of its products.
- Changes in U.S. administrative policy, including changes to existing trade agreements and any resulting changes in international trade relations, may have an adverse effect on the Company.
- The Company uses important intellectual property in its business. If it is unable to protect its intellectual property or if a third party makes assertions against it or its customers relating to intellectual property rights, the Company’s business could be adversely affected.
- The Company is subject to business continuity risks associated with increasing centralization of its information technology (IT) systems.
- A failure of or disruption in the Company’s information technology infrastructure, including a disruption related to cybersecurity, could adversely impact its business and operations.
- The Company’s business success depends on attracting and retaining qualified personnel.
- The Company’s profitability and results of operations may be adversely affected by program launch difficulties.
- Part of the Company’s workforce is unionized which could subject it to work stoppages.
- Work stoppages, production shutdowns and similar events could significantly disrupt the Company’s business.
- Changes in interest rates and asset returns could increase the Company’s pension funding obligations and reduce its profitability.
- The Company is subject to extensive environmental regulations.
- The Company has liabilities related to environmental, product warranties, litigation and other claims.
- Compliance with and changes in laws could be costly and could affect operating results.
- Changes in tax laws or tax rates taken by taxing authorities and tax audits could adversely affect the Company’s business.
- There could be significant liability if the previous Delphi Technologies separation from its former parent fails to qualify as a tax-free transaction for U.S. federal income tax purposes.
- The Company is subject to risks related to its international operations.
- The Company’s business in China is subject to aggressive competition and is sensitive to economic, political, and market conditions.
- A downgrade in the ratings of the Company’s debt could restrict its ability to access the debt capital markets.
- The Company could incur additional restructuring charges as it continues to execute actions in an effort to improve future profitability and competitiveness and to optimize its product portfolio and may not achieve the anticipated savings and benefits from these actions.
- The Company relies on sales to major customers.
- The Company is sensitive to the effects of its major customers’ labor relations.
- The Company could be adversely affected by supply shortages of components from its suppliers.
- Suppliers’ economic distress could result in the disruption of the Company’s operations and could adversely affect its business.
- The Company is subject to possible insolvency of financial counterparties.
- A variety of other factors could adversely affect the Company’s business.
Management Discussion
- Net sales for the three months ended June 30, 2022 totaled $3,759 million, flat compared to the three months ended June 30, 2021. Acquisitions, primarily AKASOL in June of 2021, contributed $67 million in additional sales in the three months ended June 30, 2022. In December 2021, the Company sold its Water Valley, Mississippi manufacturing facility, which accounted for $47 million of net sales in the three months ended June 30, 2021 that did not recur in 2022. Foreign currencies resulted in a year-over-year decrease in sales of approximately $221 million primarily due to the weakening of the Euro, Korean Won and Chinese Renminbi relative to the U.S. Dollar. The net increase excluding these items was primarily due to increased demand for the Company’s products and the impact of commercial negotiations with the Company’s customers, partially offset by the decline in industry production compared to the prior year, primarily in China due to COVID-19 related lock-downs.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
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New words:
American, commingled, David, Don, earn, Eastern, enable, expedient, granting, hearing, inability, Maria, Mich, Michigan, MOU, NAV, order, partnership, percent, Peter, presence, rapidly, reached, redemption, revised, scheduled, set, Stipulation, substantively, Wahler, winding
Removed:
alleged, asserted, behalf, brought, dated, defendant, dismissal, duty, fiduciary, letter, nominal, past, PLC, principle, purportedly, resurgence
Financial reports
Current reports
8-K
Borgwarner Announces Electrification Progress and Reports Second Quarter Results
3 Aug 22
8-K
Borgwarner Declares Quarterly Dividend
29 Jul 22
8-K
Other Events
13 Jul 22
8-K
Borgwarner Announces Multiple Electrification Awards and Reports First Quarter Results
4 May 22
8-K
Borgwarner Declares Quarterly Dividend
28 Apr 22
8-K
Borgwarner Wins Numerous Additional Electric Vehicle Awards, Announces E-motor Acquisition and Reports Fourth Quarter and Full Year Results
15 Feb 22
8-K
Borgwarner Declares Quarterly Dividend
10 Feb 22
8-K
Amendment No. 1 to Credit Agreement
18 Nov 21
8-K
Borgwarner Declares Quarterly Dividend
10 Nov 21
8-K
Sara A. Greenstein to its Board of Directors
9 Nov 21
Registration and prospectus
25-NSE
Exchange delisting
21 Jun 21
8-A12B
Registration of securities on exchange
19 May 21
424B5
Prospectus supplement for primary offering
14 May 21
FWP
Free writing prospectus
12 May 21
424B5
Prospectus supplement for primary offering
12 May 21
S-8
Registration of securities for employees
5 Oct 20
424B5
Prospectus supplement for primary offering
18 Jun 20
FWP
Free writing prospectus
16 Jun 20
424B5
Prospectus supplement for primary offering
16 Jun 20
S-3ASR
Automatic shelf registration
18 Feb 20
Proxies
PX14A6G
Letter to shareholders
31 Mar 21
DEF 14A
Definitive proxy
19 Mar 21
DEFA14A
Additional proxy soliciting materials
19 Jun 20
DEFA14A
Additional proxy soliciting materials
16 Jun 20
DEFA14A
Additional proxy soliciting materials
29 May 20
DEFA14A
Additional proxy soliciting materials
15 May 20
DEFA14A
Additional proxy soliciting materials
6 May 20
DEFA14A
Additional proxy soliciting materials
6 May 20
DEFA14A
Additional proxy soliciting materials
4 May 20
Other
SD
Conflict minerals disclosure
31 May 22
SD
Conflict minerals disclosure
28 May 21
CERT
Certification of approval for exchange listing
19 May 21
SD
Conflict minerals disclosure
29 May 20
SD
Conflict minerals disclosure
23 May 19
UPLOAD
Letter from SEC
14 Oct 18
CORRESP
Correspondence with SEC
7 Aug 18
SD
Conflict minerals disclosure
31 May 18
CORRESP
Correspondence with SEC
24 Jan 18
UPLOAD
Letter from SEC
28 Nov 17
Ownership
3
BORGWARNER / Tania Wingfield ownership change
8 Aug 22
4
BORGWARNER / Daniel Etue ownership change
21 Jul 22
11-K
Annual report of employee stock purchases
21 Jun 22
4
BORGWARNER / TONIT M CALAWAY ownership change
1 Jun 22
4
BORGWARNER / TONIT M CALAWAY ownership change
18 May 22
4
BORGWARNER / ALEXIS P MICHAS ownership change
29 Apr 22
4
BORGWARNER / DEBORAH D MCWHINNEY ownership change
29 Apr 22
4
BORGWARNER / Shaun McAlmont ownership change
29 Apr 22
4
BORGWARNER / PAUL ANTHONY MASCARENAS ownership change
29 Apr 22
4
BORGWARNER / Michael S Hanley ownership change
29 Apr 22
Patents
Utility
Torque transfer assembly and vehicle including the same
9 Aug 22
A torque transfer assembly includes an engine starter, an electric machine, a torque converter, and a disconnect clutch further defined as a mechanical clutch.
Utility
Dual volute turbocharger with asymmetric tongue-to-wheel spacing
9 Aug 22
The present invention is related to the housing (60) of an exhaust turbine (32) of a turbocharger comprising a first volute (61) and a second volute (62), each of the volutes (61,62) ending in respective first and second guide tongues (64,66).
Utility
Wastegate assembly and turbocharger including the same
9 Aug 22
A wastegate assembly for a turbocharger includes a valve element.
Utility
Valve assembly for a dual volute turbocharger and dual volute turbocharger including the same
9 Aug 22
A valve assembly for controlling exhaust gas flow to a turbine housing interior of a dual volute turbocharger includes a first valve member, a valve shaft, and a second valve member.
Utility
High efficiency turbocharger with EGR system
9 Aug 22
In accordance with one aspect of the present disclosure, a turbocharger includes a compressor having a compressor wheel, a turbine provided within a housing, and an exhaust gas recirculation (EGR) flow path.
Transcripts
2022 Q2
Earnings call transcript
3 Aug 22
2022 Q1
Earnings call transcript
4 May 22
2021 Q4
Earnings call transcript
15 Feb 22
2021 Q3
Earnings call transcript
3 Nov 21
2021 Q2
Earnings call transcript
4 Aug 21
2021 Q1
Earnings call transcript
5 May 21
2020 Q4
Earnings call transcript
11 Feb 21
2020 Q3
Earnings call transcript
29 Oct 20
2020 Q2
Earnings call transcript
5 Aug 20
2020 Q1
Earnings call transcript
6 May 20
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