Filing Flows › Borgwarner (BWA) › Q3 2026 › vs Q3 2025
Borgwarner (BWA) Q3 2026 vs Q3 2025 (year over year)
Borgwarner's revenue fell $104M (-3%) from $3.6B in Q3 2025 to $3.5B in Q3 2026. The biggest changes: PowerDrive Systems +$123M (+21%); Drivetrain & Morse Systems −$107M (-7%); Turbos & Thermal Technologies −$66.0M (-5%). Gross margin 19.0% against 18.5% (+0.5 pts).
Borgwarner, Q3 2026: revenue $3.5B (-3% year over year), operating margin 8.7%, net earnings $221M, operating cash flow $320M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 19.0% | 18.5% | +0.5 pts |
| Operating margin | 8.7% | 6.9% | +1.8 pts |
| Net margin | 6.3% | 4.4% | +1.9 pts |
| Free cash flow margin | 5.6% | 7.4% | -1.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Turbos & Thermal Technologies | $1.4B | $1.4B | −$66.0M | -5% |
| Drivetrain & Morse Systems | $1.3B | $1.4B | −$107M | -7% |
| PowerDrive Systems | $699M | $576M | $123M | +21% |
| Battery Energy Systems | $78.0M | $132M | −$54.0M | -41% |
| Revenue | $3.5B | $3.6B | −$104M | -3% |
| Gross profit | $662M | $664M | −$2.0M | -0.3% |
| Cost of revenue | $2.8B | $2.9B | −$102M | -3% |
| Operating profit | $302M | $248M | $54.0M | +22% |
| Operating expenses | $360M | $416M | −$56.0M | -13% |
| Pre-tax earnings | $298M | $248M | $50.0M | +20% |
| Net earnings | $221M | $158M | $63.0M | +40% |
| Minority interests | $12.0M | $15.0M | −$3.0M | -20% |
| Income tax | $65.0M | $75.0M | −$10.0M | -13% |
| Depreciation & amortization | $153M | $219M | −$66.0M | -30% |
| Working capital & other | $54.0M | $28.0M | $26.0M | +93% |
| Operating cash flow | $320M | $368M | −$48.0M | -13% |
| Free cash flow (company-reported) | $195M | $266M | −$71.0M | -27% |
| Capital expenditures, including tooling outlays | $125M | $102M | $23.0M | +23% |
Questions
How much did Borgwarner's revenue grow year over year in Q3 2026?
Borgwarner's revenue fell $104M (-3%) from $3.6B in Q3 2025 to $3.5B in Q3 2026.
What drove Borgwarner's revenue change in Q3 2026?
PowerDrive Systems +$123M (+21%); Drivetrain & Morse Systems −$107M (-7%); Turbos & Thermal Technologies −$66.0M (-5%).