Magna International

Magna International, Inc. is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations. The Power and Vision segment comprises of global powertrain systems, electronics systems, mirrors, lighting, and mechatronics operations. The Seating Systems segment deals with global seating systems operations. The Complete Vehicles segment focuses on vehicle engineering and manufacturing operations. The company was founded by Frank Stronach in 1957 and is headquartered in Aurora, Canada.

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Magna International, Inc. is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles. The Body Exteriors & Structures segment includes body and chassis systems, exterior systems, and roof systems operations. The Power & Vision segment comprises of global powertrain systems, electronics systems, mirrors, lighting, and mechatronics operations. The Seating Systems segment deals with global seating systems operations. The Complete Vehicles segment focuses on vehicle engineering and manufacturing operations. The company was founded by Frank Stronach in 1957 and is headquartered in Aurora, Canada.

DETROIT, March 05, 2024 (GLOBE NEWSWIRE) -- General Motors (GM), global automotive supplier Magna, and leading technology services and consulting company Wipro Limited, have teamed up to develop a B2B sales platform for buying and selling automotive software. The platform, called SDVerse, aims to revolutionize the automotive software sourcing and procurement process by providing a matchmaking platform for buyers and sellers of embedded automotive software.

General Motors, Magna, and Wipro Team Up to Develop Automotive Software Marketplace: ‘SDVerse'

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General Motors , auto parts supplier Magna and IT company Wipro said on Tuesday they were working together to create a sales platform, called SDVerse, to buy and sell automotive software.

GM, Magna and Wipro team up for automotive software marketplace

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Magna (MGA) reports mixed fourth-quarter results and expects full-year 2024 revenues in the band of $43.8-$45.4 billion, up from $42.8 billion recorded in 2023.

Magna (MGA) Q4 Earnings Miss Expectations, Increase Y/Y

AURORA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange ("TSX") had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 300,000 Magna Common Shares (the "Bid"), representing approximately 0.11% of its public float. As at February 1, 2024, Magna had 286,780,238 issued and outstanding Common Shares, including a public float of 286,433,600 Common Shares.

TSX Accepts Notice of Intention to Make Normal Course Issuer Bid

In a release issued under the same headline on Friday, February 9th by Magna International Inc. (TSX: MG; NYSE: MGA), please note that some of the information in the Consolidated Statements of Cash Flows and Supplemental Data tables has been updated. The corrected release follows:

CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook

Magna International Inc. (MGA) Q4 2023 Earnings Call Transcript

The headline numbers for Magna (MGA) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Magna (MGA) Reports Q4 Earnings: What Key Metrics Have to Say

Magna (MGA) came out with quarterly earnings of $1.33 per share, missing the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $0.91 per share a year ago.

Magna (MGA) Lags Q4 Earnings Estimates

Fourth Quarter 2023 Highlights Sales increased 9% to $10.5 billion, compared to 7% increase in global light vehicle production Sales increased 4% excluding foreign currency translation and acquisitions net of divestitures Diluted earnings per share and Adjusted diluted earnings per share increased to $0.94 and $1.33, respectively, compared to $0.33 and $0.94 last year Paid $133 million in dividends Raised quarterly cash dividend to $0.475 per share 2024 Outlook Highlights Sales expected to continue to outgrow global light vehicle production through outlook period Expect Adjusted EBIT Margin to expand by 180 basis points or more by 2026 to 7.0-7.7% range AURORA, Ontario, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the fourth quarter and year ended December 31, 2023.       THREE MONTHS ENDEDDECEMBER 31,   YEAR ENDEDDECEMBER 31,         2023       2022       2023       2022     Reported                                       Sales   $ 10,454     $ 9,568     $ 42,797     $ 37,840                         Income from operations before income taxes   $ 310     $ 146     $ 1,606     $ 878                         Net income attributable to Magna International Inc.   $ 271     $ 95     $ 1,213     $ 592                         Diluted earnings per share   $ 0.94     $ 0.33     $ 4.23     $ 2.03                       Non-GAAP Financial Measures (1)                                       Adjusted EBIT   $ 558     $ 367     $ 2,238     $ 1,708                         Adjusted diluted earnings per share   $ 1.33     $ 0.94     $ 5.49     $ 4.24                       All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars.

Magna Announces Fourth Quarter 2023 Results and 2024 Outlook

Get a deeper insight into the potential performance of Magna (MGA) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Unveiling Magna (MGA) Q4 Outlook: Wall Street Estimates for Key Metrics

Magna (MGA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Magna (MGA) Reports Next Week: Wall Street Expects Earnings Growth

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Magna International has lost 26.71% over the past three years, but it is set for a rebound. Technical indicators suggest that MGA stock is entering a bullish trajectory, with the potential for a significant upside. MGA is undervalued and has a bright outlook, warranting a buy rating.

Magna International: Buy This Undervalued Growth Stock

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MG:CA's historical performance has demonstrated a strong recovery from the impact of COVID-19, as revenue has shown strong growth. Global light vehicle production is expected to remain strong, further supporting MG:CA's growth outlook. MG:CA joint venture with LG is expected to benefit from the accelerating growth in the EV market.

Magna International: Growing EV Demand And Vehicle Production

AURORA, Ontario, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA ANNOUNCES DATE FOR Q4 & YEAR END 2023 RESULTS and 2024 OUTLOOK CONFERENCE CALL     FRIDAY – FEBRUARY 9, 2024 8:00 AM ET     DIAL IN NUMBERS North America Toll-Free: 1-800-621-4410 International Toll: 1-416-981-9010 Webcast: www.magna.com Slide presentation will be available on our website prior to the call     REBROADCAST INFORMATION Replay available 2 hours after the call until February 16, 2024 North America Toll-Free: 1-800-558-5253 International Toll: 1-416-626-4100 Reservation No.: 22029006 INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com  905-726-7035 TELECONFERENCE CONTACTNancy Hansford, Executive Assistant, Investor Relations nancy.hansford@magna.com  905-726-7108

Magna Announces Date for Q4 & Year End 2023 Results and 2024 Outlook Conference Call

AURORA, Ontario, Jan. 09, 2024 (GLOBE NEWSWIRE) -- At CES 2024, leading mobility technology company Magna introduced a breath and camera-based pre-development technology designed to combat impaired driving. The cutting-edge solution represents a significant milestone in the ongoing efforts to enhance road safety.

Magna Advances Road Safety With Impaired Driving Prevention Technology

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AURORA, Ontario, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Magna, a leading global mobility technology company, is enhancing its automated driving capabilities by joining NorthStar – Telia Sweden and Ericsson's 5G innovation program for industrial enterprises. As part of the agreement, Telia and Ericsson have built a dedicated, private 5G network at Magna's test track located in Vårgårda, Sweden, where new cutting-edge Advanced Driver Assistance System (ADAS) solutions in vehicle-to-vehicle (V2V) and vehicle-to-everything (V2X) connectivity are being trialed.

Magna Enhances ADAS Capabilities by Joining 5G Innovation Program

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The average of price targets set by Wall Street analysts indicates a potential upside of 27.1% in Magna (MGA). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

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Canadian labour union Unifor said on Thursday it has returned to the bargaining table with Magna International after workers staged a walkout at the auto parts supplier's Integram seat manufacturing facility in Windsor.

Canadian union Unifor, Magna resume bargaining after strike at seating plant

News for Magna International Stock (MGA)