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.

Earnings data Q1 2021

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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.

AURORA, Ontario, June 18, 2024 (GLOBE NEWSWIRE) -- For more than 65 years, Magna has helped redefine the very concept of consumer experience and design in the vehicle. Today, the company has further advanced traditional in-cabin vehicle design with its first awarded contract to deliver a reconfigurable seating system to a Chinese OEM. This innovative technology offers fully rotating front seats paired with long rails, enabling a flexible layout for more in-cabin space.

Magna Awarded Reconfigurable Seating Business With Chinese OEM

Magna's (MGA) long-term prospects are strong on the back of innovation, cost control, frequent business wins and a sound balance sheet.

Magna (MGA) Hits 52-Week Low: Should You Still Hold the Stock?

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES AURORA, Ontario, May 27, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it has entered into an agency agreement providing for the issuance, by way of private placement in each of the provinces of Canada, of CAD$450 million aggregate principal amount of senior unsecured notes due 2029. The notes will bear interest at an annual rate of 4.80% and will mature on May 30, 2029.

Magna Announces CAD Senior Notes Offering

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Magna (MGA) now expects 2024 revenues in the band of $42.6-$44.2 billion, down from $43.8-$45.4 billion guided earlier.

Magna (MGA) Stock Down 4% Since Q1 Earnings & Sales Miss

AURORA, Ontario, May 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2024 annual meeting of shareholders held on May 9, 2024. A total of 230,328,916 Common Shares or 80.18% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows:

Magna Announces 2024 Annual Meeting Results

It hasn't been a pleasant 2024 for vehicle parts maker Magna International (NYSE: MGA ), who also happens to be the contract manufacturer for the struggling Fisker (OTCMKTS: FSRN ). Magna produces the Fisker Ocean, an electric vehicle (EV) SUV.

Fisker Stock Crisis Causes Analysts to Slash Price Targets on Magna International

Magna International Inc. (NYSE:MGA ) Q1 2024 Earnings Conference Call May 3, 2024 8:00 AM ET Company Participants Louis Tonelli – Vice President-Investor Relations Swamy Kotagiri – Chief Executive Officer Pat McCann – Executive Vice-President and Chief Financial Officer Conference Call Participants John Murphy – Bank of America Tamy Chen – BMO Capital Markets Mark Delaney – Goldman Sachs Itay Michaeli – Citi Joseph Spak – UBS Securities Dan Levy – Barclays Krista Friesen – CIBC Colin Langan – Wells Fargo Michael Glen – Raymond James Operator Thank you for standing by, and welcome to the Magna International First Quarter 2024 Results. All lines have been placed on mute to prevent any background noise.

Magna International Inc. (MGA) Q1 2024 Earnings Call Transcript

Although the revenue and EPS for Magna (MGA) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Magna (MGA) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Magna (MGA) came out with quarterly earnings of $1.08 per share, missing the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.11 per share a year ago.

Magna (MGA) Lags Q1 Earnings and Revenue Estimates

AURORA, Ontario, May 03, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the first quarter ended March 31, 2024.

Magna Announces First Quarter 2024 Results

AURORA, Ontario, April 30, 2024 (GLOBE NEWSWIRE) -- Magna was named a 2024 Automotive News PACE Award winner and received multiple PACEpilot Innovation to Watch recognitions at the awards ceremony on April 29th. The prestigious PACE Award recognizes automotive suppliers for superior innovation, technological advancement, and business performance, while the PACEpilot acknowledges post-pilot, pre-commercial innovations in the automotive and future mobility space. Magna was the only company to receive both a PACE Award and multiple PACEpilot Innovation to Watch recognitions.

Magna Wins 2024 Automotive News PACE Award, Receives PACEpilot Recognitions

Beyond analysts' top -and-bottom-line estimates for Magna (MGA), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended March 2024.

Countdown to Magna (MGA) Q1 Earnings: A Look at Estimates Beyond Revenue and EPS

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.

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Serve Robotics Inc

Serve to rely on Magna's manufacturing expertise to scale its fleet to up to 2,000 robots for Uber Eats and for geographic expansion Magna has been licensing Serve's technology to support development of new robotic products SAN FRANCISCO , April 24, 2024 /PRNewswire/ -- Serve Robotics Inc. (the "Company" or "Serve") (NASDAQ:SERV), a leading autonomous sidewalk delivery company, today announced an expansion of their existing agreement with Magna International Inc. ("Magna") (TSX: MG; NYSE: MGA), one of the world's largest automotive suppliers, to accelerate the adoption of robotics in logistics. Under the terms of a new production and purchase agreement effective April 24, Magna will become the exclusive contract manufacturer of Serve's delivery robots, supporting Serve's plan to deploy up to 2,000 robots on the Uber Eats platform across multiple U.S. markets.

Serve Robotics Enters Production Agreement with Magna to Scale Robot Manufacturing

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Quit scanning the market for a reasonably priced stock! Your search ends as Magna International (NYSE: MGA ) offers growth, value and yield.

Cheapskate Investor Alert! Magna International Stock Is Priced to Buy Now.

On Monday, unusual options activity for Magna (NYSE: MGA ) – an auto parts specialist – shot up to the top of the charts. Specifically, total options volume reached 119,018 contracts, up 1,779.92% against its trailing one-month average.

Trade of the Day: Buy Magna (MGA) Stock to Profit From EV Sector Fallout

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With electric vehicle (EV) startup Fisker (OTCMKTS: FSRN ) seemingly flirting with bankruptcy and Fisker stock trading around 6 cents, Wall Street is souring on its manufacturing partner, Magna International (NYSE: MGA ). Specifically, one investment bank just downgraded MGA stock yesterday.

Fisker Risk Forces Wall Street to Downgrade Magna (MGA) Stock

AURORA, Ontario, April 15, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA)  MAGNA INTERNATIONAL INC. FIRST QUARTER 2024 RESULTS WEBCAST FRIDAY – MAY 3, 2024 8:00 AM ET LIVE AUDIO WEBCAST Webcast registration: https://events.q4inc.com/attendee/510210737       DIAL IN DETAILS Participant Toll-Free Dial-In:Participant Toll Dial-In:Conference ID:   1-800-715-98711-646-307-19639829976 Slide presentation will be available on our website Investors | Magna prior to the call       REBROADCAST INFORMATION Replay available 2 hours after the call until May 10, 2024 Toll-Free Dial-In:Toll Dial-In:Conference ID:   1-800-770-20301-609-800-99099829976       INVESTOR CONTACT Louis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com     905-726-7035 TELECONFERENCE CONTACT Nancy Hansford, Executive Assistant, Investor Relations nancy.hansford@magna.com              905-726-7108

Magna Announces Date for Q1 2024 Results Call

Magna International is one of the world's largest manufacturers of OEM components for various automakers with a $15 billion market cap. To date, Magna has increased its dividend for 15 consecutive years with a 10-year dividend growth rate of 11.1%. MGA stock's yield has risen to 3.8%, which is 110 basis points higher than its five-year average.

Magna International: A Global Automotive Supplier Currently On An Upswing

Magna International's Q4-2023 results were below consensus, with lower adjusted EBITDA and sales growth. The company's guidance for 2024 showed improvement in adjusted EBIT margin but still fell below consensus expectations.

Magna: Attractive Entry For Long Term Returns

AURORA, Ontario, March 28, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced that its 2023 Annual Report, including Management's Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company's website, www.magna.com. Magna has also filed these documents with the Canadian Securities Administrators (accessible through its website at www.sedarplus.ca) and the U.S. Securities and Exchange Commission (accessible through its website at www.sec.gov/edgar).

Magna Posts 2023 Annual Report

News for Magna International Stock (MGA)