BorgWarner Stock Jumps On Q1 Earnings: Revenues Beat, $500M Buyback, Strong Guidance, And More
Portfolio Pulse from Nabaparna Bhattacharya
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.

May 02, 2024 | 1:54 pm
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BorgWarner Inc. reported strong Q1 earnings, beating analyst expectations with a significant share buyback program and optimistic FY24 guidance, leading to a 7.27% increase in stock price.
The positive earnings report, combined with a substantial share buyback program and an upward revision in FY24 EPS outlook, directly contribute to investor optimism and a likely short-term upward price movement for BWA shares.
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