BorgWarner to suspend manufacturing operations, can't estimate COVID-19-related impact [MarketWatch]
BorgWarner Inc. (BWA)
Last borgwarner inc. earnings: 2/13 06:30 am
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Source: MarketWatch
BorgWarner to suspend manufacturing operations, can't estimate COVID-19-related impact BorgWarner Inc. BWA, +3.22% said Tuesday it plans to temporarily suspend manufacturing operations, particularly in North American and Europe, citing market conditions as a result of the COVID-19 pandemic. The company said it was not able to estimate the COVID-19-related impact on 2020 results given uncertainties, but said significant reductions in automotive or truck production, which made up 70% of its 2019 sales, would have an "adverse effect" on its sales to original equipment manufacturers. The company said it has about $2.32 billion of liquidity, including an undrawn credit facility of $1.5 billion. The company has total debt maturities through 2021 of $250 million. The stock, which was indicated up about 4% in premarket trading, has lost 34.2% over the past month through Monday, while the Dow Jones Industrial Average DJIA, +6.19% has declined 33.5%.
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BWA
Earnings
- 10/31/24 - Beat
BWA
Sec Filings
- 11/14/24 - Form 144
- 11/14/24 - Form SC
- 11/13/24 - Form 4
- BWA's page on the SEC website