Borgwarner Inc Down 6.30% To $31.70 After Earnings

February 8, 2024 | by magnews24.com

Borgwarner Inc (BWA) said before open Thursday that it broke even in quarter four 2023.

In the same quarter a year ago, the company earned $1.26 per share on revenue of $4.1 billion.

The stock is down 6.30% to $31.70 after the report.

Borgwarner Inc’s profit margins maintained as both earnings and revenue declined at the same pace.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 32. Meanwhile, the average Wall Street analyst rated the stock a Buy.

BorgWarner is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. Its products help improve vehicle performance, propulsion efficiency, stability and air quality. The Company manufactures and sells these products worldwide, primarily to original equipment manufacturers of light vehicles (passenger cars, sport-utility vehicles, vans and light trucks). The Company┬┐s products are also sold to OEMs of commercial vehicles (medium-duty trucks, heavy-duty trucks and buses) and off-highway vehicles (agricultural and construction machinery and marine applications). The Company also manufactures and sells its products to certain tier one vehicle systems suppliers and into the aftermarket for light, commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in Europe, the Americas and Asia and is an original equipment supplier to nearly every major automotive OEM in the world.

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