BorgWarner has temporarily suspended operations at certain of the company’s manufacturing and assembly facilities.
Although the supplier is currently unable to reasonably estimate the impact of the situation on its 2020 outlook due to heightened level of uncertainty, the company does expect this situation to have a material impact on its 2020 financial performance and is in the process of reassessing its full-year financial guidance.
The company plans to provide an update to its outlook on its first quarter earnings call scheduled for 6 May, 2020.
As of 20 March, 2020, the company had liquidity of around US$2.32bn, comprised of cash balances of approximately US$820m and an undrawn revolving credit facility of US$1.5bn.
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