BORGWARNER INC

BorgWarner Inc. announced the appointment of Rajesh Kalathur as an independent director to its Board of Directors, increasing the board size from eight to nine members. Mr. Kalathur brings extensive global leadership experience from his previous roles as President of John Deere Financial and Chief Information Officer of Deere & Company. Concurrently, the company's Board declared a quarterly cash dividend of $0.17 per share. This dividend is scheduled for payment on September 15, 2026, to stockholders of record as of September 1, 2026.

BorgWarner Inc. announced the appointment of Stefan Demmerle to new leadership roles, effective July 1, 2026. Mr. Demmerle will serve as Vice President of BorgWarner Inc., President and General Manager of Battery Energy Systems, and Chief Technology Officer. He previously held the position of Vice President and President and General Manager of BorgWarner PowerDrive Systems since 2015. The company stated that there will be no changes to his employment terms or compensatory arrangements.

BorgWarner reported strong financial results for the first quarter ended March 31, 2026, with net earnings attributable to BorgWarner Inc. increasing by 54% to $242 million, and diluted EPS rising to $1.16. Net sales saw a slight increase to $3.53 billion, while operating income jumped 42% to $336 million. The company also generated $152 million in net cash from operating activities and repurchased $150 million in treasury stock, alongside a decrease in restructuring expenses.

BorgWarner Inc. reported strong first quarter 2026 results, with U.S. GAAP net sales increasing 1% to $3,533 million and adjusted diluted EPS rising 12% to $1.24. The company returned $185 million to shareholders through repurchases and dividends and secured 12 new business awards to support long-term growth. BorgWarner maintained its full-year 2026 guidance, expecting adjusted operating margin improvement and adjusted EPS growth despite anticipated declines in weighted light vehicle markets and Battery Energy Systems segment sales.

BorgWarner Inc. stockholders approved the amended and restated 2023 Stock Incentive Plan, increasing shares reserved for issuance by 8.3 million. This plan became effective upon approval at the Annual Meeting on April 29, 2026. Additionally, the Board declared a quarterly cash dividend of $0.17 per share, payable on June 15, 2026, to stockholders of record on June 1, 2026. Stockholders also re-elected eight directors, approved executive compensation on an advisory basis, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2026. A stockholder proposal regarding action by written consent was rejected.