- BorgWarner Inc (NYSE:BWA) reported third-quarter FY22 sales growth of 19% year-on-year to $4.06 billion, beating the consensus of $4.00 billion.
- Net sales from the Air Management segment increased 21.1% Y/Y, and the e-Propulsion & Drivetrain Segment gained 20.8%.
- Gross profit rose 24% to $806 million, and gross margin expanded 90 basis points to 19.9%.
- The operating margin was 9.6%, and the operating income increased 53.7% Y/Y to $389 million.
- BorgWarner held $1.2 billion in cash and equivalents as of September 30, 2022. Net cash provided by operating activities for nine months amounted to $679 million.
- Adjusted EPS of $1.24 beat the analyst consensus of $1.04.
- Outlook: BorgWarner sees FY22 sales of $15.4 billion – $15.7 billion (prior view $15.5 billion – $16 billion) versus the Street view of $15.61 billion.
- The company expects FY22 adjusted EPS of $4.25 – $4.45 (previous view $4.00 – $4.40), against the consensus of $4.23.
- BorgWarner believes it is already on track to achieve about $4 billion of electric vehicle revenue by 2025. The company continues to expect its 2022 electric vehicle revenue to grow to $850 million, which is more than double what it was in 2021.
- Price Action: BWA shares are trading higher by 1.26% at $37.00 on the last check Thursday.
Eli Lilly and Co’s Zepbound (Tirzepatide) Injection is Now Available in US Pharmacies for Adults Living with Obesity, Effective December 15 Zepbound Will Be Added To Cigna Healthcare’s Commercial Formularies
Eli Lilly and Company (NYSE:LLY) today announced that Zepbound™ (tirzepatide) injection is now available. Zepbound is indicated for adults with obesity (with a BMI of 30 kg/m2 or greater), or those who
