BorgWarner Inc. (NYSE:BWA) reported Q1 earnings with adjusted EPS of $1.03, surpassing the analyst consensus of 87 cents, and revenues of $3.595 billion, exceeding expectations of $3.509 billion. Sales grew 6% year-over-year, driven by increased demand, despite the negative impact of foreign currencies. Gross profit rose to $644 million, with a margin expansion to 17.9%. The company announced a $500 million share buyback program, adding to the existing $267 million authorization. BorgWarner raised its FY24 adjusted EPS outlook to $3.80-$4.15 and reiterated its net sales forecast of $14.4 billion to $14.9 billion. Shares surged 7.27% to $35.26.