BorgWarner to suspend manufacturing operations, can't estimate COVID-19-related impact [MarketWatch]
BorgWarner Inc. (BWA)
Last borgwarner inc. earnings: 2/13 06:30 am
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Source: MarketWatch
BorgWarner to suspend manufacturing operations, can't estimate COVID-19-related impact BorgWarner Inc. BWA, +3.22% said Tuesday it plans to temporarily suspend manufacturing operations, particularly in North American and Europe, citing market conditions as a result of the COVID-19 pandemic. The company said it was not able to estimate the COVID-19-related impact on 2020 results given uncertainties, but said significant reductions in automotive or truck production, which made up 70% of its 2019 sales, would have an "adverse effect" on its sales to original equipment manufacturers. The company said it has about $2.32 billion of liquidity, including an undrawn credit facility of $1.5 billion. The company has total debt maturities through 2021 of $250 million. The stock, which was indicated up about 4% in premarket trading, has lost 34.2% over the past month through Monday, while the Dow Jones Industrial Average DJIA, +6.19% has declined 33.5%.
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BWA
News
- Automotive Turbocharger Market worth USD 22.9 billion by 2030 – Exclusive Report by MarketsandMarkets™ [Yahoo! Finance]Yahoo! Finance
- BorgWarner Inc. (NYSE: BWA) had its price target raised by analysts at Citigroup Inc. from $33.00 to $41.00. They now have a "neutral" rating on the stock.MarketBeat
- BorgWarner Inc. (NYSE: BWA) had its price target raised by analysts at Barclays PLC from $44.00 to $45.00. They now have an "overweight" rating on the stock.MarketBeat
- Why BorgWarner (BWA) is a Top Momentum Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
- BorgWarner Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next [Yahoo! Finance]Yahoo! Finance
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