2024-05-02 14:24:06 ET
BorgWarner Inc. (BWA)
Q1 2024 Results Conference Call
May 02, 2024 09:30 AM ET
Company Participants
Patrick Nolan - Vice President of Investor Relations
Frederic Lissalde - President, Chief Executive Officer
Craig Aaron - Chief Financial Officer
Conference Call Participants
Colin Langan - Wells Fargo
John Murphy - Bank of America
Dan Levy - Barclays
Noah Kaye - Oppenheimer
Joseph Spak - UBS Investment Bank
Douglas Dutton - Evercore ISI
Alexander Potter - Piper Sandler
James Picariello - BNP Paribas
Luke Junk - Robert W. Baird & Co
Mark Delaney - Goldman Sachs
Presentation
Operator
Good morning. My name is Britney, and I will be your conference facilitator. At this time, I would like to welcome everyone to the BorgWarner 2024 First Quarter Results Conference Call. [Operator Instructions]
I would now like to turn the call over to Patrick Nolan, Vice President of Relations. Mr. Nolan, you may begin your conference.
Patrick Nolan
Thank you, Britney. Good morning, everyone, and thank you for joining us today. We issued our earnings release earlier this morning. It is posted on our website at borgwarner.com, both on our home page and on our Investor Relations home page. With regard to our Investor Relations calendar, we will be attending multiple conferences between now and our next earnings release. Please see the Events section of our Investor Relations home page for a full list.
Before we begin, I need to inform you that joining this call, we may make forward-looking statements, which involve risks and uncertainties as detailed in our 10-K. Our actual results may differ significantly from the matters discussed today.
During today’s presentation, we will highlight certain non-GAAP measures in order to provide a clearer picture of how the core business performed and for comparison purposes of prior periods. In the hearsay on a comparable basis, that means excluding the impact of FX, net M&A and other noncomparable items. When you hear us say adjusted, that means excluding the impact of FX and net M&A.
We will also refer to our incremental margin performance. Our incremental margin is defined as the organic change in our adjusted operating income divided by the organic change in our sales. Our all incremental includes our planned investment in ER&D, any impact on net inflationary impacts and other cost items....
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BorgWarner Inc. (BWA) Q1 2024 Earnings Call Transcript