BorgWarner Q1 revenue up 8% to $4.18B; adjusted EPS $1.09; lifts FY 2023 sales guidance

BORGWARNER INC

2023-Q1 EPS reported $0.93 revenue$4,180,000,000

GAAP EPS $0.93, adjusted EPS $1.09 vs $1.05 a year ago; net earnings $217M.
Organic sales grew 12% YoY; full-year 2023 revenue guided $17.1-17.9B (prior ~$16.5B).
eProduct sales forecast $2.3-2.6B, including $1.5-1.8B EV sales, up from $870M in 2022.
Free cash flow was -$290M in Q1; operating cash flow guided $1.4-1.55B for full year.
New EV wins: battery packs for electric buses, eMotors for Chinese OEM, eFans for commercial trucks.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BORGWARNER INC reported the quarter ended March 31, 2023 results: revenue $4,180 million, net income $0.93 per diluted share, EPS $0.93 per diluted share. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $4,180 million
Net income: $0.93 per diluted share
EPS: $0.93 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

a program win to provide DC fast chargers to the Pontiac, Michigan school district in support of its electric school buses. First Quarter Highlights: • U.S. GAAP net sales of $4,180 million, an increase of 8% compared with first quarter 2022. ◦ Excluding the impact of foreign currencies and the acquisitions of Santroll’s light vehicle eMotor business, Rhombus Energy

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Source: SEC EDGAR

accession 0000908255-23-000024

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