(Updates with CFO quote, analyst comment and share move) By Sanjana Shivdas Aug 4 (Reuters) – BorgWarner Inc raised its full-year earnings and revenue forecast on Wednesday, and said the impact from the global semiconductor crunch would be lower in the second half of the year. However, the auto parts maker does not expect third… Continue reading UPDATE 2-BorgWarner lifts 2021 forecast; sees chip crunch slowing in second half
Category: Suppliers
Meritor Announces Investment in SEA Electric
TROY, Mich., Aug. 3, 2021 /PRNewswire/ — Meritor, Inc. (NYSE: MTOR) today announced an equity investment in SEA Electric Holdings Pty Ltd. (“SEA Electric”), a global leader in commercial electric vehicles for urban delivery and logistics. With global headquarters in Los Angeles, SEA Electric currently partners with commercial vehicle OEMs, dealers, operators and upfitters to deliver a range… Continue reading Meritor Announces Investment in SEA Electric
Eaton (ETN) Tops Q2 Earnings and Revenue Estimates
Eaton (ETN) came out with quarterly earnings of $1.72 per share, beating the Zacks Consensus Estimate of $1.55 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 10.97%. A quarter ago, it was expected that this… Continue reading Eaton (ETN) Tops Q2 Earnings and Revenue Estimates
Eaton Reports Record Second Quarter 2021 Results, Raises 2021 Outlook
DUBLIN, August 03, 2021–(BUSINESS WIRE)–Power management company Eaton Corporation plc (NYSE:ETN) today announced that earnings per share were $1.26 for the second quarter of 2021. Excluding charges of $0.25 per share related to intangible amortization, $0.18 per share related to acquisitions and divestitures, and $0.03 per share related to a multi-year restructuring program, adjusted earnings… Continue reading Eaton Reports Record Second Quarter 2021 Results, Raises 2021 Outlook
Quanergy Demonstrates the Industry First OPA-based Solid State LiDAR with 100 Meter Range
SUNNYVALE, Calif.–(BUSINESS WIRE)– #Automotive–Quanergy Systems, Inc., a leading provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT, today announced the successful driving demonstration of its S3 Series LiDAR, a true solid state LiDAR sensor using an industry-first Optical Phased Array (OPA) technology and a scalable CMOS silicon manufacturing process… Continue reading Quanergy Demonstrates the Industry First OPA-based Solid State LiDAR with 100 Meter Range
Cummins Reports Second Quarter 2021 Results
COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today reported results for the second quarter of 2021. Second quarter revenues of $6.1 billion increased 59 percent from the same quarter in 2020. Sales in North America increased 74 percent while international revenues increased 42 percent driven by strong demand across all global markets compared to the same… Continue reading Cummins Reports Second Quarter 2021 Results
Putting the Spotlight on Future Mobility
August 3, 2021 Putting the Spotlight on Future Mobility Open share list Share this content. According to the report Global EV Outlook 2021, sales of electric vehicles (EV) around the world grew 41 percent in 2019 and despite the downturn in overall car sales in 2020 due to the pandemic, EV sales still managed to… Continue reading Putting the Spotlight on Future Mobility
Bridgestone Americas to buy fleet management software provider for $391 mln
Aug 2 (Reuters) – Bridgestone Corp’s unit said on Monday it would buy Azuga Holdings Inc, a fleet management software provider, for $391 million to improve fleet safety at the replacement tire maker. Azuga has developed a fleet management platform with GPS tracking and accident reduction services to improve road safety and reduce fuel consumption… Continue reading Bridgestone Americas to buy fleet management software provider for $391 mln
XPeng’s stock rallies after record July delivery data, Nio’s stock slips
Share of Xpeng Inc. rallied 4.8% in premarket trading Monday, after the China-based electric vehicle maker reported July deliveries that more than tripled from a year ago and rose 22% from the previous month, to mark a second-straight monthly record. Fellow China-based EV maker Nio Inc.’s stock slipped 0.2% ahead of the open, after July… Continue reading XPeng’s stock rallies after record July delivery data, Nio’s stock slips
06:59 ETDana Incorporated Reports Robust 2021 Second-quarter Financial Results; Reiterates Full-year Guidance Ranges Driven by Strong DemandKey Highli…
MAUMEE, Ohio, July 30, 2021 /PRNewswire/ — Key Highlights Sales of $2.2 billion, an increase of $1.1 billion Net income attributable to Dana of $53 million, an increase of $227 million Diluted EPS of $0.36, an increase of $1.56 Adjusted EBITDA of $233 million, an increase of $238 million; margin of 10.6 percent of sales… Continue reading 06:59 ETDana Incorporated Reports Robust 2021 Second-quarter Financial Results; Reiterates Full-year Guidance Ranges Driven by Strong DemandKey Highli…