BorgWarner reports second quarter 2020 net cash provided by operating activities of $64 million, and $10 million of free cash flow

BorgWarner Inc.today reported second quarter results.

Second Quarter Highlights:

• • U.S. GAAP net sales of $1,426 million, down 44% compared with second quarter 2019.
    • Excluding the impact of foreign currencies and the net impact of acquisitions and divestitures, net sales were down  43% compared with second quarter 2019.
  • U.S. GAAP net loss of $(0.47) per diluted share.
    • Excluding the $(0.33) per diluted share related to non-comparable items (detailed in the table below), adj. net loss was $(0.14) per diluted share.
  • U.S. GAAP operating loss of $78 million, or 5.5% of net sales.
    • Excluding the $69 million of pretax expenses related to non-comparable items, adj. operating loss was $(9) million. Excluding the impact of non-comparable items, adj. operating loss was (0.6)% of net sales.
  • Net cash provided by operating activities of $64 million.
    • Free cash flow of $10 million.

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SOURCE: BorgWarner