Consolidated Sales: $10.3 billion, down 4% from Q3 2023. Adjusted EBIT: $594 million, with a margin of 5.8%. Adjusted EPS: $1.28, down 12% year-over-year. Free Cash Flow: $174 million, a significant increase from $23 million in Q3 2023. Net Income: $369 million, compared to $419 million in Q3 2023. Liquidity: $3.7 billion, including $1.1 billion… Continue reading Magna International Inc (MGA) Q3 2024 Earnings Call Highlights: Navigating Challenges with …
Tag: Magna
Magna Cuts Outlook Following Third-Quarter Miss, Plans to Resume Share Repurchases
Magna Cuts Outlook Following Third-Quarter Miss, Plans to Resume Share Repurchases Go to Source
Magna Announces Third Quarter 2024 Results
Sales of $10.3 billion decreased in-line with the 4% reduction in global light vehicle production Diluted earnings per share were $1.68, up $0.31, largely reflecting recognition of Fisker deferred revenue Adjusted diluted earnings per share were $1.28, down $0.18, including $0.10 due to a higher income tax rate Normal Course Issuer Bid to purchase up… Continue reading Magna Announces Third Quarter 2024 Results
@Tata-JLR: JLR RAISES £134,000 IN WEEKEND FUNDRAISER FOR 61 UK CHARITIES
About JLR JLR’s Reimagine strategy aims to deliver a sustainability‑rich vision of modern luxury by design. We are transforming our business, targeting carbon net zero across our supply chain, products, and operations by 2039. We have set a roadmap to reduce emissions across our own operations and value chains by 2030 through approved, science‑based targets.… Continue reading @Tata-JLR: JLR RAISES £134,000 IN WEEKEND FUNDRAISER FOR 61 UK CHARITIES
Inside Magna’s 9% Stock Surge: The Bold Buyback Moves Reshaping Its Future
Magna International (NYSE:MGA) has stirred investor interest with a strategic mix of moves, even as Q3 sales dipped 4%, driven by weaker light vehicle production in North America and China. Despite hitting some bumps, Magna’s Power & Vision segment shined, delivering higher margins, while Complete Vehicles also showed resilience, balancing out pressure in other areas.… Continue reading Inside Magna’s 9% Stock Surge: The Bold Buyback Moves Reshaping Its Future
Magna: Q3 Earnings Snapshot
AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported third-quarter earnings of $484 million. On a per-share basis, the Aurora, Ontario-based company said it had net income of $1.68. Earnings, adjusted for one-time gains and costs, came to $1.28 per share. The results fell short of Wall Street expectations.… Continue reading Magna: Q3 Earnings Snapshot
Magna Announces Third Quarter 2024 Results
AURORA, Ontario, Nov. 01, 2024 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2024. We posted sales of $10.3 billion for the third quarter of 2024, a decrease of 4% from the third quarter of 2023. The lower sales largely reflects a… Continue reading Magna Announces Third Quarter 2024 Results
Magna Announces Third Quarter 2024 Results
Sales of $10.3 billion decreased in-line with the 4% reduction in global light vehicle production Diluted earnings per share were $1.68, up $0.31, largely reflecting recognition of Fisker deferred revenue Adjusted diluted earnings per share were $1.28, down $0.18, including $0.10 due to a higher income tax rate Normal Course Issuer Bid to purchase up… Continue reading Magna Announces Third Quarter 2024 Results
Aptiv implements additional cost-saving measures as EV transition slows
Auto supplier BorgWarner also cut its annual sales guidance to account for lower market production. Aptiv PLC said on Thursday that it has taken extra steps to boost profitability, after it cut its annual sales forecast, as the company adapts to a difficult market environment. Shares of Aptiv slumped over 17% in afternoon trade. The… Continue reading Aptiv implements additional cost-saving measures as EV transition slows
Jaguar no longer sells any new cars in UK as F-Pace axed from line up
New Jaguar F-Pace SUVs are no longer available in the UK, meaning the brand no longer sells any new cars in the market and won’t until its first next-generation model arrives in 2026. This follows the UK market axing of the XE, XF and F-Type, made at Castle Bromwich, and the E-Pace and I-Pace, assembled by Magna Steyr in… Continue reading Jaguar no longer sells any new cars in UK as F-Pace axed from line up