BorgWarner beats Q1 expectations, raises FY24 EPS guidance [Seeking Alpha]
BorgWarner Inc. (BWA)
Last borgwarner inc. earnings: 2/13 06:30 am
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Source: Seeking Alpha
While EV OEMs are lamenting the slowing momentum in sales, BorgWarner ( BWA Q1 results showed the company is weathering the challenging market conditions with sales and profits both increasing from the same quarter last year. Total sales were up 6% to $3.6B, beating expectations by a solid $90M, while profits increased by 27% to $1.03 per share, 16 cents better than expectations. The company remained free cash flow negative but should be FCF positive in 2024 to within a range of $475M to $575M. Gross profit margin widened to 17.9% from 17.1%, while operating margin was 8.2%. For 2024, BorgWarner ( BWA ) projects its operating margin to be between 8.2% to 8.5%. The company maintained its full year sales guidance of $14.4B-$14.9B versus the Street consensus of $14.76B. Adjusted earnings guidance for 2024 was increased, however, to $3.80 to $4.15 per share from previous guidance of $3.65 to $4 per share, straddling the consensus estimate of $3.90. Recommended For You More Tren
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BWA
Earnings
- 5/2/24 - Beat
BWA
Sec Filings
- 5/2/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/26/24 - Form 4
- BWA's page on the SEC website