BorgWarner Q2 adj. EPS $1.19; raises FY adj. margin and EPS guidance, lowers sales view

BORGWARNER INC

2024-Q2 EPS reported $2.24 revenue$7,198,000,000

Q2 net sales $3,603M (-2% YoY); GAAP EPS $1.39, adj. EPS $1.19 (up from $1.06 YoY).
Adjusted operating margin 10.4% (GAAP 8.2%); net cash from ops $462M, free cash flow $297M.
FY 2024 guidance: sales lowered to $14.1-$14.4B (from $14.4-$14.9B); adj. margin raised to 9.6-9.8% (from 9.2-9.6%).
Adj. EPS guidance raised to $3.95-$4.15 (from $3.80-$4.15); plans $300M share repurchase in H2 2024.
ePropulsion restructuring targets $100M annual savings by 2026; new business unit structure effective July 1.

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