(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
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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
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Feb 10 (Reuters) – Magna International Inc (MG.TO) 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… Continue reading Untitled
Magna Announces Fourth Quarter 2022 Results and 2023 Outlook
Fourth Quarter 2022 Highlights Sales increased 5% to $9.6 billion Excluding foreign currency translation sales increased 13%, compared to a global light vehicle production increase of 5% Diluted earnings per share and Adjusted diluted earnings per share decreased to $0.33 and $0.91, respectively, compared to $1.54 and $1.30 last year Returned $131 million to shareholders… Continue reading Magna Announces Fourth Quarter 2022 Results and 2023 Outlook
Worldwide Automotive Window and Exterior Sealing Industry to 2031 – Market Analysis, Size, Share, Growth, Trends and Forecasts
DUBLIN, Feb. 9, 2023 /PRNewswire/ — The “Automotive Window and Exterior Sealing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering. This report on the global automotive window and exterior sealing market studies the past as well as the current growth trends and opportunities to gain… Continue reading Worldwide Automotive Window and Exterior Sealing Industry to 2031 – Market Analysis, Size, Share, Growth, Trends and Forecasts
TuSimple names permanent General Counsel
SAN DIEGO, Feb. 9, 2023 /PRNewswire/ — TuSimple (Nasdaq:TSP), a global autonomous driving technology company, announced today that Evan Dunn has been promoted to serve as the company’s General Counsel. The position oversees TuSimple’s legal department, including compliance, corporate governance, litigation and intellectual property. Mr. Dunn replaces Susan Marsch who held the position on an interim… Continue reading TuSimple names permanent General Counsel
Tiny IoT devices are getting their own special encryption algorithms
Image: AerialPerspective Images/Getty Images The US Department of Commerce’s technical standards organization NIST has nominated the Ascon group of cryptographic algorithms for protecting small devices and information transmitted to and from IoT devices. NIST will later this year publish the “lightweight cryptography” standard after picking the Ascon family for the task. Also: What is the… Continue reading Tiny IoT devices are getting their own special encryption algorithms
MSA Schedules Fourth Quarter and Full Year 2022 Earnings Conference Call
PITTSBURGH, Feb. 8, 2023 /PRNewswire/ — MSA Safety Incorporated (NYSE: MSA), the global leader in the development, manufacture and supply of safety products that protect people and facility infrastructures, today announced that it will host the company’s fourth quarter and full year 2022 earnings conference call on Thursday, February 16, 2023 at 10:00 a.m. Eastern… Continue reading MSA Schedules Fourth Quarter and Full Year 2022 Earnings Conference Call
Beep Expands Team with Three New Leadership Appointments
Experienced Industry Leaders Appointed to Operations, Strategic Accounts & Policy Roles LAKE NONA, Fla., Feb. 8, 2023 /PRNewswire/ — Beep Inc., a provider of autonomous shared mobility solutions, today announced the expansion of its leadership team with the appointments of transportation industry veterans Katrina Heineking, Marc Klein and Alex Poirot. Heineking joins the Beep team… Continue reading Beep Expands Team with Three New Leadership Appointments