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CONSUMER CYCLICALS: BorgWarner (BWA Baa1/BBB/BBB+): 2Q24 Results Headlines

CONSUMER CYCLICALS

Small FY24 revenue guidance downgrade but EPS upgrade. Appears largely credit neutral at first look.

  • “Net sales $3.60 billion, estimate $3.7 billion
  • Free cash flow $297 million, estimate $192.5 million
  • Adjusted operating income $376 million, estimate $346.6 million
  • Still sees free cash flow $475 million to $575 million” – bbg
  • Webcast 14.30 BST https://event.on24.com/wcc/r/4630796/8D7DA7271A7D111F0D2910D47A08EC13

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