Tag: Contract Manufacturer

Magna International Inc (MGA) Q1 2025 Earnings Call Highlights: Navigating Challenges and …

Consolidated Sales: $10.1 billion, down 8% year-over-year. Adjusted EBIT: $354 million with an adjusted EBIT margin of 3.5%. Adjusted EPS: $0.78, down 28% year-over-year. Free Cash Flow: Used $313 million in the quarter. North American Production: Reduced by about 100,000 units to 15 million. Capital Spending: Expected to be in the $1.7 billion to $1.8… Continue reading Magna International Inc (MGA) Q1 2025 Earnings Call Highlights: Navigating Challenges and …

Magna Announces First Quarter 2025 Results

Comparing the first quarter of 2025 to the first quarter of 2024:  – Sales decreased 8% to $10.1 billion, as global light vehicle production decreased 3%, which included 8% and 5% declines in Europe and North America, respectively  – Diluted earnings per share of $0.52 and Adjusted diluted earnings per share of $0.78, compared to… Continue reading Magna Announces First Quarter 2025 Results

Magna plans cost-cutting measures to cushion tariff hit after profit misses estimate

(Reuters) -Canadian auto parts supplier Magna International said on Friday that it plans to implement cost-saving measures to cushion the hit from U.S. President Donald Trump’s sweeping tariffs. The cost-cutting plans come after the company missed first-quarter profit estimates due to a 3% decline in global vehicle production, with Magna especially impacted by Tata Motors’… Continue reading Magna plans cost-cutting measures to cushion tariff hit after profit misses estimate

Magna (MGA) Q1 Earnings Lag Estimates

Magna (MGA) came out with quarterly earnings of $0.78 per share, missing the Zacks Consensus Estimate of $0.90 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -13.33%. A quarter ago, it was expected that this… Continue reading Magna (MGA) Q1 Earnings Lag Estimates

Magna International Inc. (TSE:MG) Stock’s On A Decline: Are Poor Fundamentals The Cause?

Magna International (TSE:MG) has had a rough three months with its share price down 18%. We decided to study the company’s financials to determine if the downtrend will continue as the long-term performance of a company usually dictates market outcomes. Particularly, we will be paying attention to Magna International’s ROE today. Return on Equity or… Continue reading Magna International Inc. (TSE:MG) Stock’s On A Decline: Are Poor Fundamentals The Cause?

EKA Mobility and Chartered Speed to Deploy 675 Electric Buses Across Rajasthan

EKA Mobility, an electric vehicle and technology company, in collaboration with Chartered Speed, has secured a Letter of Award (LOA) for the deployment of 675 electric buses in Rajasthan under the Pradhan Mantri e-Bus Sewa Scheme. As part of the initiative, the consortium will deploy 565 nine-meter and 110 twelve-meter fully electric buses across eight… Continue reading EKA Mobility and Chartered Speed to Deploy 675 Electric Buses Across Rajasthan

@Tata-JLR: JLR DRIVES OVER £100M OF VALUE FROM REUSE INITIATIVES TO CUT WASTE AS IT TRANSFORMS ITS INDUSTRIAL OPERATIONS FOR ELECTRIFICATION

JLR is reducing waste as it transforms its global production facilities for electrification through the reuse, refurbishment and repurposing of tools and equipment, instead of purchasing new Scale of asset redeployment across the luxury automotive manufacturer’s UK and European factories is worth over £100m of value to date and would cover seven football pitches with… Continue reading @Tata-JLR: JLR DRIVES OVER £100M OF VALUE FROM REUSE INITIATIVES TO CUT WASTE AS IT TRANSFORMS ITS INDUSTRIAL OPERATIONS FOR ELECTRIFICATION

Odysse Electric Unveils Evoqis Lite, Priced at INR 1,18,000

Odysse Electric Vehicles has introduced the Evoqis Lite, positioned as India’s most affordable electric sports bike, with an ex-showroom price of INR 1,18,000. The Evoqis Lite is powered by a 60V battery, offering a top speed of 75 km/h and a range of 90 km on a single charge. Commenting on the launch, Nemin Vora,… Continue reading Odysse Electric Unveils Evoqis Lite, Priced at INR 1,18,000