10-K · February 11, 2026
BorgWarner reported stable full-year net sales of $14,316 million for 2025, up from $14,086 million in 2024, with eProducts revenue growing to approximately $2.6 billion (18% of sales) and PowerDrive Systems…
Earnings analysis · 10-Q
BWA earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
BorgWarner reported Q1 2026 revenue of $3.53B, slightly exceeding estimates, with diluted EPS at $1.16, outperforming consensus expectations. The company continues to face challenges in its Battery Energy Systems…
Read full summary
BorgWarner reported Q1 2026 revenue of $3.53B, slightly exceeding estimates, with diluted EPS at $1.16, outperforming consensus expectations. The company continues to face challenges in its Battery Energy Systems segment, which drove a 32% decrease in sales for that segment, while overall net sales increased 1% year-over-year. Despite these challenges, management has maintained its full-year revenue outlook at $14.0B to $14.3B.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.16
- Segment
- Turbos & Thermal Technologies
- Segment
- Drivetrain & Morse Systems
- Segment
- PowerDrive Systems
- Segment
- Battery Energy Systems
What stood out
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Revenue Growth YoY
Q1 2026 revenue reached $3.53B, a $18M increase or 1% from Q1 2025.
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EPS Exceeds Consensus
Diluted EPS of $1.16 for Q1 2026 exceeded estimates by $0.01.
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Improved Gross Profit
Gross profit was $677M with a gross margin increase to 19.2%, up from 18.2% in the prior year.
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Increased Operating Income
Operating income rose to $336M, up from $237M in Q1 2025, marking a significant improvement.
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Strong Cash Position
Company liquidity totaled $4.1B including $2.1B in cash and equivalents.
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Ongoing Share Repurchase
$150M in shares repurchased in Q1 2026 as part of a $1B authorization.
What to watch
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Declining Sales in Key Segment
The Battery Energy Systems segment experienced a 32% decline in sales, impacting overall performance.
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Decrease in Organic Sales
Management indicated declining organic sales and anticipates continued challenges in the market.
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Negative Market Conditions
Global vehicle production expected to decline modestly, affecting sales outlook.
Management's outlook
Revenue guidance maintained despite expected decline in organic net sales.
Earlier filings 4
10-Q · May 7, 2025
BorgWarner reported revenue of $3,515 million for the quarter ended March 31, 2025, down versus $3,595 million a year earlier, with gross profit of $639 million and operating income of $237 million. Diluted EPS from…
10-Q · October 31, 2024
BorgWarner reported Q3 net sales of $3,449 million, down versus both the prior quarter and prior year, while GAAP diluted EPS improved to $1.04 driven by a much lower tax provision. Cash increased to $2,000 million and…
10-K · February 8, 2024
BorgWarner reported full-year net sales of $14,198 million in 2023 (up from $12,635 million in 2022) while accelerating its Charging Forward electrification strategy: eProduct revenue was approximately $2.0 billion (14%…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.