(Adds CFO quote from conference call in paragraph 3) Aug 9 (Reuters) – Canadian auto-parts maker Magna International said on Wednesday it was prepared to consider laying off staff in the short term to combat disruptions in case of a strike by United Auto Workers (UAW) union at the Detroit Three carmakers. UAW has been… Continue reading UPDATE 1-Magna says job cuts likely in case of labor strike
Tag: Magna
Magna says job cuts likely in case of labor strike
(Reuters) -Canadian auto-parts maker Magna International said on Wednesday it was prepared to consider laying off staff in the short term to combat disruptions in case of a strike by United Auto Workers (UAW) union at the Detroit Three carmakers. UAW has been in negotiations with the carmakers – Ford Motor, General Motors and Stellantis… Continue reading Magna says job cuts likely in case of labor strike
‘The Fisker Ocean is so good I’d buy one ahead of any of its rivals’
I’ve known Henrik Fisker for many years, going back to his days at BMW in the nineties. So it seems a little odd talking about him in terms of a start-up, especially because his previous venture, Fisker Automotive, didn’t end well. That’s a shame because the car it produced, the plug-in hybrid Fisker Karma, was… Continue reading ‘The Fisker Ocean is so good I’d buy one ahead of any of its rivals’
Is Now The Time To Put Magna International (TSE:MG) On Your Watchlist?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it currently lacks a track record of revenue and profit. But the reality is that when a company loses money each year, for long enough, its investors will usually… Continue reading Is Now The Time To Put Magna International (TSE:MG) On Your Watchlist?
Magna (MGA) Tops Q2 Earnings Estimates, Lifts ’23 Sales View
Magna International MGA reported second-quarter 2023 adjusted earnings of $1.50 per share, up 80.7% on a year-over-year basis. The bottom line also surpassed the Zacks Consensus Estimate of $1.25 a share. Better-than-expected revenues across all segments led to the outperformance. In the reported quarter, net sales increased 17% from the prior-year quarter to $10,982 million, surpassing… Continue reading Magna (MGA) Tops Q2 Earnings Estimates, Lifts ’23 Sales View
Magna (MGA) Tops Q2 Earnings Estimates, Lifts ’23 Sales View
Magna International MGA reported second-quarter 2023 adjusted earnings of $1.50 per share, up 80.7% on a year-over-year basis. The bottom line also surpassed the Zacks Consensus Estimate of $1.25 a share. Better-than-expected revenues across all segments led to the outperformance. In the reported quarter, net sales increased 17% from the prior-year quarter to $10,982 million, surpassing… Continue reading Magna (MGA) Tops Q2 Earnings Estimates, Lifts ’23 Sales View
Magna (MGA) Tops Q2 Earnings Estimates, Lifts ’23 Sales View
Magna International MGA reported second-quarter 2023 adjusted earnings of $1.50 per share, up 80.7% on a year-over-year basis. The bottom line also surpassed the Zacks Consensus Estimate of $1.25 a share. Better-than-expected revenues across all segments led to the outperformance. In the reported quarter, net sales increased 17% from the prior-year quarter to $10,982 million, surpassing… Continue reading Magna (MGA) Tops Q2 Earnings Estimates, Lifts ’23 Sales View
Magna begins production of modular eDecoupling unit for BEVs
Magna has announced the start of production of a first-to-market, modular eDecoupling unit to support multiple battery electric vehicle (BEV) programs for a German premium OEM. A bolt-on stand-alone solution for BEVs, Magna’s electro-magnetic eDecoupling is a robust, field proven product technology that is integrated as a complete module. The eDecoupling is an electromechanical device… Continue reading Magna begins production of modular eDecoupling unit for BEVs
Magna begins production of modular eDecoupling unit for BEVs
Magna has announced the start of production of a first-to-market, modular eDecoupling unit to support multiple battery electric vehicle (BEV) programs for a German premium OEM. A bolt-on stand-alone solution for BEVs, Magna’s electro-magnetic eDecoupling is a robust, field proven product technology that is integrated as a complete module. The eDecoupling is an electromechanical device… Continue reading Magna begins production of modular eDecoupling unit for BEVs
Magna International Inc. (NYSE:MGA) Q2 2023 Earnings Call Transcript
Magna International Inc. (NYSE:MGA) Q2 2023 Earnings Call Transcript August 4, 2023 Operator: Greetings and welcome to the Q2 2023 results conference call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, please press the one… Continue reading Magna International Inc. (NYSE:MGA) Q2 2023 Earnings Call Transcript