(Adds estimates, background) Feb 10 (Reuters) – Magna International Inc on Friday reported a nearly 80% slump in its quarterly profit that missed estimates, as the Canadian auto parts maker struggled with higher engineering costs in its electrification and self-driving businesses. The company’s fall in profit comes amid ongoing chip shortages and rising raw materials… Continue reading UPDATE 2-Auto parts maker Magna posts profit below estimates on higher costs
Author: Yarhow_Finance Online News
Auto parts maker Magna posts profit below estimates on higher costs
(Reuters) -Magna International Inc on Friday reported a nearly 80% slump in its quarterly profit that missed estimates, as the Canadian auto parts maker struggled with higher engineering costs in its electrification and self-driving businesses. The company’s fall in profit comes amid ongoing chip shortages and rising raw materials costs that have battered big auto… Continue reading Auto parts maker Magna posts profit below estimates on higher costs
Magna Announces Fourth Quarter 2022 Results and 2023 Outlook
Magna International Inc. Swamy Kotagiri, Magna’s Chief Executive Officer “2022 was another difficult year for the auto industry as inflation climbed to levels not experienced for decades, geopolitical issues contributed to unprecedented European energy prices and OEM production schedules remained volatile. Nevertheless, we once again generated above-market sales growth, and booked a record amount of… Continue reading Magna Announces Fourth Quarter 2022 Results and 2023 Outlook
Eaton Corporation plc (NYSE:ETN) Q4 2022 Earnings Call Transcript
Eaton Corporation plc (NYSE:ETN) Q4 2022 Earnings Call Transcript February 8, 2023 Operator: Ladies and gentlemen, thank you for standing by, and welcome to the Eaton fourth quarter earnings call. . I would now like to turn the conference over to Mr. Yan Jin, Senior Vice President, Investor Relations. Please go ahead. Yan Jin: Good… Continue reading Eaton Corporation plc (NYSE:ETN) Q4 2022 Earnings Call Transcript
Why Continental Aktiengesellschaft (ETR:CON) Could Be Worth Watching
Let’s talk about the popular Continental Aktiengesellschaft (ETR:CON). The company’s shares received a lot of attention from a substantial price increase on the XTRA over the last few months. With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. However, what if the… Continue reading Why Continental Aktiengesellschaft (ETR:CON) Could Be Worth Watching
BorgWarner stock rallies after analyst pounds the table, saying its an ‘indirect play on EV growth’
TipRanks 2 “Strong Buy” AI Stocks Trading Under $5 Unless you’ve been living under a rock recently, you might have heard of this thing called ChatGPT, the chatbot hogging the headlines. Powered by artificial intelligence (AI), its potential to have an impact on everything from education to law to coding to journalism, amongst many other… Continue reading BorgWarner stock rallies after analyst pounds the table, saying its an ‘indirect play on EV growth’
BorgWarner’s (BWA) Q4 Earnings Surpass Estimates, Rise Y/Y
BorgWarner Inc. BWA reported adjusted earnings of $1.26 per share for fourth-quarter 2022, up from $1.06 recorded in the prior-year quarter. The bottom line also beat the Zacks Consensus Estimate of $1.04 per share. Higher-than-anticipated revenues across e-Propulsion & Drivetrain, Fuel-System and Aftermarket segments resulted in the outperformance. The automotive equipment supplier reported net sales… Continue reading BorgWarner’s (BWA) Q4 Earnings Surpass Estimates, Rise Y/Y
Adient (ADNT) Q1 Earnings Miss on Poor EMEA Unit Results
Adient ADNT reported adjusted earnings per share of 34 cents for the first quarter of fiscal 2023, lagging the Zacks Consensus Estimate of 40 cents. The underperformance largely stemmed from lower-than-anticipated sales and profits from the EMEA segment. The bottom line, however, reversed from the year-ago loss of 38 cents per share. In the reported quarter,… Continue reading Adient (ADNT) Q1 Earnings Miss on Poor EMEA Unit Results
Adient (ADNT) Q1 Earnings Miss on Poor EMEA Unit Results
Adient ADNT reported adjusted earnings per share of 34 cents for the first quarter of fiscal 2023, lagging the Zacks Consensus Estimate of 40 cents. The underperformance largely stemmed from lower-than-anticipated sales and profits from the EMEA segment. The bottom line, however, reversed from the year-ago loss of 38 cents per share. In the reported quarter,… Continue reading Adient (ADNT) Q1 Earnings Miss on Poor EMEA Unit Results
Global Media Group Thumbs up for GWM New Energy Products in Australia
BAODING, China, Feb. 10, 2023 /PRNewswire/ — Recently, GWM, one of the largest automobile manufacturers in China, unveiled its latest new energy products at its global media test drive event in Australia. At the conference of the event, the director in charge of GWM Australia systematically introduced to the media GWM’s determination to develop the… Continue reading Global Media Group Thumbs up for GWM New Energy Products in Australia