AUBURN HILLS, Mich. , Oct. 31, 2024 /PRNewswire/ -- BorgWarner Inc.
(NYSE: BWA) today reported third quarter results. Third Quarter and 2024 Guidance Update New Business Update The Company secured multiple new business awards that are expected to support its future long-term profitable growth including: Third Quarter Highlights (continuing operations basis): Financial Results (continuing operations basis): The Company believes the following table is useful in highlighting non-comparable items that impacted its U.S.
GAAP net earnings per diluted share. The non-comparable items presented below are calculated after tax using the corresponding effective tax rate discrete to each item and the weighted average number of diluted shares for the periods presented. The Company defines adjusted earnings per diluted share as earnings per diluted share adjusted to eliminate the impact of restructuring expense, merger, acquisition and divestiture expense, other net expenses, discontinued operations, other gains and losses not reflective of the Company's ongoing operations, and related tax effects.
Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Earnings per diluted share $ 1.08 $ 0.37 $ 3.
40 $ 2.06 Non-comparable items: Restructuring expense 0.07 0.
17 0.21 0.21 Accelerated depreciation 0.
10 — 0.13 0.01 Commercial contract settlement 0.
02 — 0.06 — Adjustments associated with Spin-Off related balances 0.01 — 0.
06 — Loss (gain) on sale of busines.
