BorgWarner reports Q4/FY2023 results; guides 2024 sales $14.4-14.9B, eProduct sales up 25-40%

BORGWARNER INC

2023-FY EPS reported $2.67 revenue$14,198,000,000

Q4 GAAP EPS $0.64, adjusted EPS $0.90; FY GAAP EPS $2.70, adjusted EPS $3.75.
FY net sales $14,198M (+12.4% YoY); organic sales +12.5%.
2024 guidance: net sales $14.4-14.9B, eProduct sales $2.5-2.8B (growth ~25-40% from $2.0B).
Strategic: LFP battery partnership with BYD's FinDreams, completed Eldor e-propulsion acquisition, new EV awards from Xpeng and major OEM.
Quarterly dividend $0.11/share, payable March 15, 2024 to holders of record March 1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

BORGWARNER INC reported fourth quarter and full-year ended December 31, 2023 results: revenue $3,522 million for the fourth quarter, net income $0.64 per diluted share, EPS $0.64 per diluted share.

Period: fourth quarter and full-year ended December 31, 2023
Revenue: $3,522 million for the fourth quarter
Net income: $0.64 per diluted share
EPS: $0.64 per diluted share
Result: reported results

Exact text from the filing

plug-in hybrid (PHEV) and range extended (REEV) electric vehicle passenger car platforms. Fourth Quarter Highlights (continuing operations basis): • U.S. GAAP net sales of $3,522 million, an increase of 6.2% compared with fourth quarter 2022. ◦ Excluding the impact of foreign currencies and the net impact of net M&A, organic sales were up 4.4% compared with

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Source: SEC EDGAR

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