Group 1 - The article does not provide any specific content or key points related to a company or industry [1]

Core Viewpoint - Magna International Inc. is scheduled to release its third quarter 2024 results on November 1, 2024, at 8:00 AM ET, which will be accessible via a live audio webcast [1] Group 1: Event Details - The webcast registration link is provided for interested participants [1] - Dial-in details include a toll-free number (1-800-715-9871) and a toll number (1-646-307-1963) with a conference ID of 9829976 [1] - A slide presentation will be available on the company's website prior to the call [1] Group 2: Rebroadcast Information - A replay of the call will be available two hours after the live event until November 8, 2024 [1] - The toll-free dial-in for the rebroadcast is 1-800-770-2030, and the toll dial-in is 1-609-800-9909, using the same conference ID [1] Group 3: Investor Contacts - Louis Tonelli serves as the Vice-President of Investor Relations, with contact details provided [1] - Nancy Hansford is the Executive Assistant for Investor Relations, also with contact information included [1]

Investment Strategy - Geraldine Weiss advocated for investing in stocks with a dividend yield above their historical average, based on the belief that a temporarily depressed stock price can lead to higher dividend yields [1] - The strategy is contrarian, focusing on companies that may be undervalued due to short-term issues [1] Stock Recommendations - **U.S. Bancorp**: A major regional bank with a current dividend yield of 4.3%, which is significantly above its historical average. The stock price has decreased from a high of $63 to around $45 due to the Federal Reserve's interest rate hikes, but the outlook for 2025 and 2026 is positive as rates are expected to stabilize [2][3] - **Magna International**: A leading auto parts manufacturer with a dividend yield of 4.4%, nearly double its 10-year median, despite a 28% drop in stock price this year. Revenue and earnings have increased, indicating potential resilience [4][5] - **Walgreens Boots Alliance**: Currently has a high dividend yield of 13.6%, but the stock has plummeted from over $96 to just above $9. The company faces significant challenges, including high debt levels and industry competition, yet the low price-to-earnings ratio suggests potential for recovery [5][6] - **UGI Corp.**: A utility company with a dividend yield of 6.0%, more than double its typical yield over the past decade. The company distributes natural gas and propane, and has a strong market presence in the U.S. and abroad [7][8] - **Greif Inc.**: Specializes in industrial packaging with a dividend yield of 4.5%, above its 10-year median of 3.3%. The company has shown strong profitability with a return on equity of 15% or better in five of the last six years [9] Market Context - The banking industry is expected to recover as the Federal Reserve shifts its monetary policy, which may benefit banks like U.S. Bancorp in the coming years [3] - The auto parts sector, represented by Magna International, is facing stock price declines despite operational growth, indicating potential market mispricing [5] - The drugstore industry, exemplified by Walgreens, is grappling with reimbursement issues and competition, but the current stock valuation may present a buying opportunity [6] - Utility companies like UGI are benefiting from stable demand for essential services, reflected in their robust dividend yields [8]

Core Viewpoint - Magna International Inc. (MGA) is facing significant challenges due to lower-than-expected vehicle production in Europe, program cancellations, and substantial investments in advanced technologies, leading to a recommendation to avoid the stock [1]. Financial Outlook - Magna has revised its 2024 and 2026 sales and adjusted EBIT margin outlook downward, expecting 2024 revenues to be between $42.5 billion and $44.1 billion, down from the previous guidance of $42.6 billion to $44.2 billion [2]. - The adjusted EBIT margin for 2024 is now projected to be in the range of 5.4% to 5.8%, reduced from the earlier estimate of 5.4% to 6.0% [3]. - For 2026, sales are expected to be between $44 billion and $46.5 billion, down from the previous estimate of $48.8 billion to $51.2 billion, with an adjusted EBIT margin forecasted at 6.7% to 7.4%, down from 7% to 7.7% [3]. Debt Levels - As of June 30, 2024, Magna's long-term debt increased to $4,863 million from $4,175 million as of December 31, 2023, with a debt to capitalization ratio of approximately 29%, higher than the industry average of 23% [3]. Customer Concentration - Magna's growth may be hindered by its concentrated customer base, with a significant portion of sales dependent on six major clients: General Motors, BMW, Stellantis, Daimler, Ford, and Volkswagen [4]. - If market share shifts away from these top customers and the company fails to grow sales with other OEMs, profitability could be negatively impacted [4]. Investment in Technology - The company plans to invest heavily in the development of technologically advanced products, with capital spending projected at approximately $2.3 billion to $2.4 billion in 2024, which may strain near-term cash flows [5]. - High research and development expenses, along with costs related to advanced driver-assistance systems, are expected to negatively affect near-term margins [5].

MAGNA INTERNATIONAL INC. SECOND QUARTER 2024 RESULTS WEBCAST LIVE AUDIO WEBCAST Webcast registration: https://events.q4inc.com/attendee/760182349 Participant Toll-Free Dial-In: 1-800-715-9871 Participant Toll Dial-In: 1-646-307-1963 Conference ID: 9829976 REBROADCAST INFORMATION Replay available 2 hours after the call until August 9, 2024 INVESTOR CONTACT Louis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com 905-726-7035 AURORA, Ontario, July 02, 2024 (GLOBE NEWSWIRE) -- Magna Internatio ...

Group 1 - Magna International Inc. will host a second quarter 2024 results webcast on August 2, 2024, at 8:00 AM ET [1] - Participants can access the conference via toll-free and toll dial-in numbers provided [1] - A replay of the webcast will be available for two hours after the call until August 9, 2024 [1] Group 2 - The company is listed on both the TSX and NYSE under the ticker symbols MG and MGA, respectively [2] - Webcast registration is available online, and a slide presentation will be accessible on the company's investor relations website prior to the call [2] - Investor contact information is provided for further inquiries, including the Vice-President of Investor Relations [2]

Magna's reconfigurable seating system allows the vehicle to adapt to the consumer, instead of forcing the consumer to adapt to the vehicle. The integration of power swivel seats with nearly two meters of power long rails, shared by front and rear rows and the center console, creates a 270-degree rotation of both the driver and front passenger seats. This configuration also increases the seat track articulation distance of both front and rear seats, resulting in a more versatile and adaptable seating arrange ...

Magna's reconfigurable seating system offers flexibility for more in-cabin space "The global mobility landscape is continuing to evolve, with vehicles increasingly becoming a flexible mobile living space for today's road users," said John Wyskiel, President Magna Seating. "With our strong R&D and innovation capabilities in China and around the world, we can respond quickly to the needs of our customers and create more localized innovative solutions to meet their expectations. The reconfigurable seating solu ...

Image Source: Zacks Investment Research Weak Q1 Results: Magna reported first-quarter 2024 adjusted earnings of $1.08 per share, which declined from the year-ago quarter's $1.11 per share and also missed the Zacks Consensus Estimate of $1.28. Sales, although inching up 2.7% year over year, fell short of the consensus mark. Free cash flow was negative $270 million in the quarter as the company continues to invest heavily in the development of technologically advanced products. While that would indeed create ...

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES AURORA, Ontario, May 27, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it has entered into an agency agreement providing for the issuance, by way of private placement in each of the provinces of Canada, of CAD$450 million aggregate principal amount of senior unsecured notes due 2029. The notes will bear interest at an annual rate of 4.80% and will mature on May 30, 2029. The of ...