BorgWarner's Q2 Revenue Shows Resilience Despite Market Challenges
BorgWarner Inc. [BWA] reported a strong performance in the second quarter of 2024, ending June 30th. The company disclosed a net profit of $315 million for the quarter, marking a significant increase from the previous quarter.
The company, headquartered in Auburn Hills, Michigan, reported to SEC in an 8-K filing $1.39 earnings per share in the quarter, compared to $0.97 in the previous quarter.
BorgWarner Inc., a key player in the automotive sector, reported revenue of $3,603 million. This figure represents a slight decrease compared to the company's revenue in the previous quarter.
In comparison to the same quarter in the previous year, BorgWarner Inc. observed a decrease in revenue, indicating a challenging market environment. Additionally, the company experienced a significant percentage increase in profit for the current quarter when compared to the same quarter in the previous year.
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As of August 7, 2024 end of day trading.
Dollars in millions | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|
Income Statement |
| Revenue | $3,603.0 | $3,595.0 | $14,198.0 | $3,622.0 |
| Operating Profit | $297.0 | $295.0 | $1,160.0 | $272.0 |
| Net Income | $317.0 | $221.0 | $695.0 | $68.0 |
| Net Cash | -$246.0 | -$497.0 | $196.0 | -$389.0 |
| Gross Margin | $685.0 | $644.0 | $2,568.0 | $652.0 |
| Operating Margin | $0.0 | $0.0 | $0.0 | $0.0 |
| Profit as % of Revenues | 216.09 | 291.40 | 18.09 | 18.00 |
| Profit as % of Assets | 3.58 | 2.49 | 4.42 | 0.44 |
| Profit as % of Stockholder Equity | 5.04 | 3.66 | 11.46 | 1.13 |
| Return on Equity | 5.04 | 3.66 | 4.76 | 1.13 |
| Return on Assets | 2.25 | 1.56 | 2.00 | 0.48 |
| Turnover Ratio | 40.69 | 40.58 | 0.90 | 0.23 |
| EBITA | $297.0 | $295.0 | | |
Balance Sheet |
| Total Assets | $14,108.0 | $14,122.0 | $14,453.0 | $14,104.0 |
| Total Liabilities | $7,823.0 | $8,080.0 | $8,387.0 | $8,097.0 |
Cash Flow Statement |
| Operating Cash Flow | $344.0 | -$118.0 | $1,397.0 | $510.0 |
| Investing Cash Flow | -$313.0 | -$175.0 | -$593.0 | -$538.0 |
| Financing Cash Flow | -$242.0 | -$183.0 | -$521.0 | -$278.0 |
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