BorgWarner Inc. (BWA) Q1 2023 Earnings Call Transcript

BorgWarner Inc. (NYSE:BWA) Q1 2023 Results Conference Call May 4, 2023 9:30 AM ET

Company Participants

Patrick Nolan - VP, IR

Fred Lissalde - President and CEO

Kevin Nowlan - EVP and CFO

Conference Call Participants

Colin Langan - Wells Fargo

Noah Kaye - Oppenheimer

James Picariello - BNP Paribas

Emmanuel Rosner - Deutsche Bank

John Murphy - Bank of America

Adam Jonas - Morgan Stanley

Dan Levy - Barclays

Luke Junk - Baird

Mark Delaney - Goldman Sachs

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 2023 First Quarter Results Conference Call. [Operator Instructions]

I would now like to turn the call over to Patrick Nolan, Vice President of Investor 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’s posted on our website, borgwarner.com, on our homepage and on our Investor Relations homepage.

With regard to our Investor Relations calendar, we will be attending multiple conferences beginning now and our next earnings release. Please see the Events section of our IR home page for a full list.

Before we begin, I need to inform you that during 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’ll 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. When you hear us say on a comparable basis, that means excluding the impact of FX, net M&A and other non-comparable items. When you hear us say adjusted, that means excluding non-comparable items. When you hear us say organic, that means excluding the impact of FX and net M&A. We will also refer to our growth compared to our market. When you hear us say market, that means the change in light and commercial vehicle Production weighted for our geographic exposure. Please note that we’ve posted today’s earnings press release and earnings call presentation to the IR page of our website. We encourage you to follow along with these slides during our discussion.

With that, I’m happy to turn the call over to Fred.