Tag: Contract Manufacturer

Waymo plans to double robotaxi production at Arizona plant by end of 2026

A Waymo self-driving vehicle seen in Phoenix, Arizona, on Feb. 27, 2025. Leslie Josephs | CNBC Alphabet-owned Waymo and the auto manufacturing giant Magna International plan to double robotaxi production at their new plant in Mesa, Arizona, by the end of 2026, the companies announced Monday. The “Waymo Driver Integration Plant,” a 239,000 square foot facility… Continue reading Waymo plans to double robotaxi production at Arizona plant by end of 2026

Electric Vehicles Update – Advancements in Battery Materials Boosting Innovation in EV Industry

NEO Battery Materials Ltd., a developer of low-cost silicon anode materials for lithium-ion batteries, has appointed Dr. Matthew Dawson, CEO of Elementium Materials, as a Senior Scientific Advisor. Dr. Dawson’s extensive background in advancing energy transition technologies is expected to bring valuable insights and support to NEO’s commercialization of its battery technology. This development highlights… Continue reading Electric Vehicles Update – Advancements in Battery Materials Boosting Innovation in EV Industry

Magna International First Quarter 2025 Earnings: Revenues Beat Expectations, EPS Lags

Revenue: US$10.1b (down 8.2% from 1Q 2024). Net income: US$146.0m (up by US$137.0m from 1Q 2024). Profit margin: 1.4% (up from 0.1% in 1Q 2024). The increase in margin was driven by lower expenses. EPS: US$0.52 (up from US$0.031 in 1Q 2024). We’ve found 21 US stocks that are forecast to pay a dividend yield… Continue reading Magna International First Quarter 2025 Earnings: Revenues Beat Expectations, EPS Lags

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 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