BorgWarner Q2 sales up 20% to $4.52B; adj EPS $1.35; FY guidance raised; acquires Eldor EHS

BORGWARNER INC

2023-Q2 EPS reported $1.80 revenue$8,700,000,000

GAAP net sales $4,520M (+20% YoY); GAAP EPS $0.87; adjusted EPS $1.35 (pro forma $1.05).
Completed PHINIA spin-off July 3; FY 2023 guidance: sales $14.2-14.6B, adj EPS $3.50-$3.85.
Agreed to acquire Eldor's EHS segment for €75M plus earnout; adds on-board charger and DC/DC converter tech.
Won multiple EV contracts: East Asian OEM inverters/eMotors (2025), Chinese OEM iDM (2024), HVCH for three platforms (2025).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BORGWARNER INC reported quarter and six months ended June 30, 2023 results: revenue $4,520 million, net income $204 million, EPS $0.87 per diluted share. Guidance raised.

Period: quarter and six months ended June 30, 2023
Revenue: $4,520 million
Net income: $204 million
EPS: $0.87 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

• BorgWarner expects its 2023 eProduct sales to be $2.3 billion to $2.4 billion, up from approximately $1.5 billion in 2022. Second Quarter Highlights: • U.S. GAAP net sales of $4,520 million, an increase of 20% compared with second quarter 2022. ◦ Excluding the impact of foreign currencies and the acquisitions of Santroll’s light vehicle eMotor business, Rhombus

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Source: SEC EDGAR

accession 0000908255-23-000041

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