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BorgWarner Inc. (BWA) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

BorgWarner Inc. (BWA) Q4 2025 Earnings Call February 11, 2026 9:30 AM EST

Company Participants

Patrick Nolan – Vice President of Investor Relations
Joseph Fadool – President, CEO & Director
Craig Aaron – Executive VP & CFO

Conference Call Participants

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Colin Langan – Wells Fargo Securities, LLC, Research Division
Chris McNally – Evercore ISI Institutional Equities, Research Division
Joseph Spak – UBS Investment Bank, Research Division
James Picariello – BNP Paribas, Research Division
Dan Levy – Barclays Bank PLC, Research Division
Luke Junk – Robert W. Baird & Co. Incorporated, Research Division
Mark Delaney – Goldman Sachs Group, Inc., Research Division
Alex Potter – Piper Sandler & Co., Research Division

Presentation

Operator

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Good morning. My name is Michael, and I will be your conference specialist. At this time, I would like to welcome everyone to the BorgWarner 2025 Fourth Quarter and Full Year Results Conference Call.

[Operator Instructions] I would now like to turn the call over to Patrick Nolan, Vice President of Investor Relations. Mr. Nolan, you may begin your conference.

Patrick Nolan
Vice President of Investor Relations

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Thank you, Michael. Good morning, everyone, and thank you for joining us today. We issued our earnings release earlier this morning. It’s posted on our website, borgwarner.com, both on our homepage and our Investor Relations homepage. With regard to our upcoming Investor Relations calendar, we will be attending multiple investor conferences between now and our next earnings release. Please see the Events section of our IR page for a full list.

Before we begin, I need to inform you that during this call, we may make forward-looking statements, which involve risks and uncertainties as detailed in our 10-K. Our actual results may differ significantly from the matters discussed today.

During today’s presentation, we’ll highlight certain non-GAAP measures in order to provide a clearer picture of how the core business

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Key Points

  • Prime Minister Anutin Charnvirakul launched the Thailand Chinese New Year Festival 2026 at Government House, celebrating 51 years of Thailand-China diplomatic relations. The event marked the beginning of nationwide festivities, featuring notable attendees like the Chinese ambassador and tourism officials.
  • A lion dance performance highlighted the occasion, alongside the presentation of an auspicious ceremonial horse to the prime minister. The Tourism Authority of Thailand, in partnership with various agencies, will organize the festival across key locations.
  • Festive lighting in Bangkok, themed “Ride the Fortune, Share the Future,” will adorn Yaowarat Road from February 7 to March 1, with major activities at Siam Paragon from February 14 to 18. Additional celebrations are planned in Hat Yai and provinces like Nakhon Sawan and Suphan Buri, aiming to boost holiday travel.

Prime Minister Anutin Charnvirakul has presided over a publicity event for the Thailand Chinese New Year Festival 2026 at Government House to commemorate the 51st anniversary of diplomatic relations between Thailand and China. The event, held at Command Building 1, signaled the start of nationwide celebrations.

The event was attended by the Chinese ambassador to Thailand, the minister of tourism and sports, the governor of the Tourism Authority of Thailand, and senior officials from relevant agencies. A lion dance performance was presented to promote the upcoming festival, and an auspicious ceremonial horse was offered to the prime minister as part of the occasion.

The Tourism Authority of Thailand, in coordination with partner agencies, will stage Thailand Chinese New Year Festival 2026 events at major locations. In Bangkok, festive lighting under the theme Ride the Fortune, Share the Future will illuminate Yaowarat Road from February 7 to March 1, while main festival activities are scheduled at Siam Paragon from February 14 to 18. Additional celebrations will take place in Hat Yai, Songkhla Province, from February 17 to 20.

Chinese New Year events are also being supported in provinces known for long-established traditions, including Nakhon Sawan and Suphan Buri, as well as other activities organized nationwide by government and private partners. Officials said the celebrations are expected to encourage travel during the holiday period, with more information available through the national tourism hotline and official festival platforms.

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An aerial view of Bristol city centre (Image: Getty Images)

A UK AI chip start-up has raised $220m in a Series A funding round and is planning to expand its presence in Bristol, it has confirmed. London-based Olix was founded by 25-year-old James Dacombe in 2024 and is targeting the development of technology that it claims will be faster and cheaper than Nvidia’s.

The company was valued at £1bn following the raise, with Hummingbird Ventures – a backer of Revolut and Deliveroo – leading the round. Other investors include Plural, Vertex Ventures, LocalGlobe, Entrepreneurs First, Fundomo and Transition.

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The round brings total capital raised by Olix – formerly known as Flux Computing – to $250m.

Jonathan Heiliger, general partner at investor Vertex Ventures, and former Facebook infrastructure executive, said: “One of the biggest constraints in AI today is the compute required to run these models at scale.

“Today’s GPU-based approach forces a compromise between speed and cost. Olix is taking a radically different approach designed to deliver a step change in both and it has huge promise.”

Mr Dacombe dropped out of school at age 16 to work as a software engineer at a start-up and then left that to build his brain healthcare company CoMind. In 2022, he secured a $200,000 grant from the Thiel Foundation – a two-year programme established by technology entrepreneur and investor Peter Thiel for young people who want to build new things.

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Mr Dacombe launched his semiconductor business Olix in March 2024. That same year he was named by the Sunday Times as one of the most inspiring people under the age of 30 in the UK.

Following the latest funding round, Olix is currently hiring for a number of roles – in the US, Canada, London and Bristol. According to a statement on its website, Olix is “an in-person” company and claims to employ “some of the best minds” in photonics, systems, and compute.

“It is difficult to overstate the impact a step change will have, not just for AI, but for society as a whole,” a statement on its website reads.

“Life at Olix is high-velocity and high-stakes. We don’t believe in ‘grinding’ for the sake of it, but we do believe in dedication to the mission.

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“This isn’t work you leave at the door; it’s work that matters enough to command a space in your life. You’ll be making a tangible impact alongside people just as excited as you are.”

The company is offering visa sponsorship, including for dependents and a £24,000 annual top-up for living near the office. The Bristol role advertised on the site is for a senior/staff digital design engineer, with a pay packet of between £125,000-£180,000.

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“By investing in British tech innovation, just as Fractile is doing today, we can reinforce our leadership in AI and boost our influence on the global stage,” the AI minister said on Tuesday.

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Heineken announced Wednesday its intent to cut up to 6,000 jobs globally. (Dado Ruvic/Reuters / Reuters)

Van den Broek said between 5,000 and 6,000 roles will be eliminated over the next two years.

“Timelines will vary by market, and we will support impacted colleagues with care, respect and appropriate assistance,” van den Broek said. 

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“These actions are designed to deliver 400 million [euros] to 500 million [euros] of annual gross savings and allow us to continue investing in our brands and capabilities while supporting healthy operating profit growth.”

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“These actions are designed to deliver 400 million [euros] to 500 million [euros] of annual gross savings,” Chief Financial Officer Harold van den Broek told investors. (Freek van den Bergh/ANP/AFP via Getty Images / Getty Images)

Some of the job cuts will be concentrated in Europe and non-priority markets, as well as at the company’s headquarters and within its supply network, Reuters reported.

Heineken expects profit growth this year of 2% to 6%, down from the 4% to 8% range it projected for 2025. Rival Carlsberg last week issued a similar forecast, according to Reuters.

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Van den Brink is set to step down in May. 

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Heineken did not immediately respond to FOX Business’ request for comment.

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