Magna International MGA reported fourth-quarter 2023 adjusted earnings of $1.33 per share, which rose 46.2% on a year-over-year basis but missed the Zacks Consensus Estimate of $1.37. Net sales increased 9% from the prior-year quarter to $10.45 billion, surpassing the Zacks Consensus Estimate of $10.44 billion. Magna International Inc. Price, Consensus and EPS Surprise Magna… Continue reading Magna (MGA) Q4 Earnings Miss Expectations, Increase Y/Y
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Magna (MGA) Q4 Earnings Miss Expectations, Increase Y/Y
Magna International MGA reported fourth-quarter 2023 adjusted earnings of $1.33 per share, which rose 46.2% on a year-over-year basis but missed the Zacks Consensus Estimate of $1.37. Net sales increased 9% from the prior-year quarter to $10.45 billion, surpassing the Zacks Consensus Estimate of $10.44 billion. Magna International Inc. Price, Consensus and EPS Surprise Magna… Continue reading Magna (MGA) Q4 Earnings Miss Expectations, Increase Y/Y
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
AURORA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange (“TSX”) had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the “Notice”). Pursuant to the Notice, Magna may purchase up to 300,000 Magna Common Shares (the “Bid”), representing approximately… Continue reading TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
Magna International Inc. Just Missed EPS By 19%: Here’s What Analysts Think Will Happen Next
Shareholders might have noticed that Magna International Inc. (TSE:MG) filed its full-year result this time last week. The early response was not positive, with shares down 5.0% to CA$74.84 in the past week. It was not a great result overall. While revenues of US$43b were in line with analyst predictions, earnings were less than expected,… Continue reading Magna International Inc. Just Missed EPS By 19%: Here’s What Analysts Think Will Happen Next
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
Magna International Inc. AURORA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange (“TSX”) had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the “Notice”). Pursuant to the Notice, Magna may purchase up to 300,000 Magna Common Shares (the… Continue reading TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
AURORA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange (“TSX”) had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the “Notice”). Pursuant to the Notice, Magna may purchase up to 300,000 Magna Common Shares (the “Bid”), representing approximately… Continue reading TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
In a release issued under the same headline on Friday, February 9th by Magna International Inc. (TSX: MG; NYSE: MGA), please note that some of the information in the Consolidated Statements of Cash Flows and Supplemental Data tables has been updated. The corrected release follows: Fourth Quarter 2023 Highlights Sales increased 9% to $10.5 billion,… Continue reading CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Magna International Inc. Swamy Kotagiri, Magna’s Chief Executive Officer “I am pleased with our 2023 operating performance, highlighted by strong execution on higher sales, success in offsetting inflationary pressures, and the benefits from operational excellence activities across the company. We completed the acquisition of Veoneer Active Safety, and are on track to deliver meaningful synergies… Continue reading CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
In a release issued under the same headline on Friday, February 9th by Magna International Inc. (TSX: MG; NYSE: MGA), please note that some of the information in the Consolidated Statements of Cash Flows and Supplemental Data tables has been updated. The corrected release follows: Fourth Quarter 2023 Highlights Sales increased 9% to $10.5 billion,… Continue reading CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Magna International Full Year 2023 Earnings: EPS Misses Expectations
Magna International (TSE:MG) Full Year 2023 Results Key Financial Results Revenue: US$42.8b (up 13% from FY 2022). Net income: US$1.21b (up 105% from FY 2022). Profit margin: 2.8% (up from 1.6% in FY 2022). The increase in margin was driven by higher revenue. EPS: US$4.24 (up from US$2.04 in FY 2022). earnings-and-revenue-growth All figures shown… Continue reading Magna International Full Year 2023 Earnings: EPS Misses Expectations