Brief: Borgwarner CFO Says Q1 Is Likely To Be The Weakest Reported Margin During The Year

BorgWarner

09/02/2023 16:17

Feb 9 (Reuters) - Borgwarner Inc  BWA.N :
    * BORGWARNER CFO-WILL SUPPLY MAJOR GERMAN VEHICLE
MANUFACTURER
WITH INNOVATIVE BATTERY COOLING PLATES FOR OEM'S NEXT-GENERATION
ELECTRIC VEHICLES IN EUROPE, U.S.- CONF CALL
    * BORGWARNER CFO- NOW HAVE PURE BEV PROGRAMS THAT WE
ESTIMATE
ACCOUNTS FOR ABOUT $3 BILLION OF BOOKED SALES IN 2025- CONF CALL
    * BORGWARNER CFO- BELIEVE ACQUIRED BUSINESSES WILL GENERATE
ABOUT
$1.3 BILLION OF EV-RELATED SALES IN 2025- CONF CALL
    * BORGWARNER CFO- EXPECT OUR GLOBAL WEIGHTED LIGHT AND
COMMERCIAL
VEHICLE MARKETS TO BE FLAT TO UP 3% THIS YEAR- CONF CALL
    * BORGWARNER CFO- Q1 IS LIKELY TO BE THE WEAKEST REPORTED
MARGIN
DURING THE YEAR- CONF CALL
    * BORGWARNER CFO- DO EXPECT SOME VARIATION IN ADJUSTED
OPERATING
MARGIN LEVEL ACROSS THE QUARTERS IN 2023- CONF CALL
    * BORGWARNER CFO- CURRENT EXPECTATIONS ARE YEAR-OVER-YEAR
IMPACT
OF INFLATIONARY PRESSURES ON FULL YEAR MARGINS IS LIKELY TO BE
NEGLIGIBLE- CONF CALL
    * BORGWARNER CEO- CONTINUE TO SEE ELEVATED LEVELS OF
INFLATION
FROM SUPPLY BASE, EXPECT TO CONTINUE TO MAINTAIN PRICING IN
PLACE WITH CUSTOMERS TO MITIGATE THAT- CONF CALL
    * BORGWARNER CFO- OUR OUTLOOK FOR  FULL YEAR IS THAT WE
DON'T
EXPECT TO SEE MATERIAL IMPACT FROM NET PRICING ENVIRONMENT ON
YOY BASIS RELATIVE TO '22
    * BORGWARNER CFO- HAVE OTHER PRODUCTIVITY ISSUES THAT WE'RE
MANAGING THROUGH FROM LABOR, FREIGHT AND OTHER THINGS
    * BORGWARNER CEO-  WE SEE STILL A LOT OF PULL FROM THE
MARKET FOR
OUR ENERGY-EFFICIENT ICE TYPES OF PRODUCTS
    * BORGWARNER CFO-  BELIEVE THAT WE'RE ON TRACK THAT AS WE
EXIT '23
AND ADDED TO THE BEGINNING OF '24, THAT EV PORTFOLIO IS
APPROACHING BREAKEVEN

Further company coverage:  BWA.N 
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