Strong Liquidity and Expected Free Cash Flow Generation Enables Disciplined Capital Deployment
~$2,500 to $2,800
Adj.OperatingMargin*^
Operating Margin^
~9.2% to 9.6%
~8.2% to 8.5%
Adj. Diluted EPS*^
Diluted EPS^
~$3.80 to $4.15
~$3.54 to $3.86
($ in millions excl. diluted EPS)
Note: Starting in the third quarter of 2023, Company results no longer include its former Fuel Systems and Aftermarket segments, and results of those segments for all periods prior to the PHINIA spin-o are reflected as discontinued operations.
$733M$767M
$500M
Additional
authorization
$267M
Remaining
under prior
authorization
Buybacks Completed
Current Buyback
2020 through Q1 2024
Authorization
BorgWarner's Balanced
Capital Allocation Approach
Since 2020
Buybacks
~$733 million
Dividends
~$623 million
Market Cap of PHINIA at Spin-off
~$1.7 billion
Total Capital Returned
~$3.1 billion
*Net sales excl. PHINIA spin-o, adj. operating margin and adj. diluted EPS on this slide are non-US-GAAP measures.
^Denotes a forward-looking statement that is based on current expectations. Actual results may dier materially due to risks and uncertainties that include, among others: inflation; supply disruptions impacting us or our customers; challenges associated with rapidly changing technologies & our ability to innovate in response; & diculty in forecasting demand for electric vehicles & our related revenue growth.
A reconciliation to US GAAP and a more fulsome list of risks & uncertainties appear in the latest BorgWarner earnings release: http://www.borgwarner.com/q1-2024-earnings.pdf
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02 May 2024 and is solely responsible for the information contained therein. Distributed by
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02 May 2024 12:58:41 UTC.
BorgWarner Inc. specializes in the design, manufacturing, and marketing of automotive equipment. Net sales break down by family of products as follows:
- air management products (54.6%): turbochargers, timing systems, emissions systems, thermal systems, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery heaters and battery charging products;
- e-propulsion & drivetrain products (30.3%): rotating electrical components, power electronics, control modules, software, friction and mechanical products for automatic transmissions and torque management products;
- gasoline and diesel fuel injection components and systems (15.1%): pumps, injectors, fuel rail assemblies, and complete systems.
At the end of 2023, the group had 79 production and assembly sites worldwide.
Net sales are distributed geographically as follows: the United States (16.4%), Germany (11.8%), Poland (7.9%), Hungary (6.4%), Europe (9.8%), China (21.1%), Mexico (12.4%), South Korea (8.2%) and other (6%).
BORGWARNER INC. 
