Magna International Inc. (MGA) is facing challenges from lower-than-anticipated vehicle production in Europe, cancellation of programs, discontinued production of Fisker Ocean and hefty investment in technologically advanced products. Let's find out why this Zacks Rank #4 (Sell) stock should be avoided. Magna has made a downward revision in its 2024 & 2026 sales and adjusted EBIT margin outlook. Lower-thananticipated vehicle production in Europe and ceased production of the Fisker Ocean are expected to act ...

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 ...

FRIDAY – AUGUST 2, 2024 8:00 AM ET Participant Toll-Free Dial-In: 1-800-715-9871 Participant Toll Dial-In: 1-646-307-1963 Conference ID: 9829976 Toll-Free Dial-In: 1-800-770-2030 Toll Dial-In: 1-609-800-9909 Conference ID: 9829976 MAGNA INTERNATIONAL INC. SECOND QUARTER 2024 RESULTS WEBCAST DIAL IN DETAILS REBROADCAST INFORMATION Replay available 2 hours after the call until August 9, 2024 TELECONFERENCE CONTACT Nancy Hansford, Executive Assistant, Investor Relations nancy.hansford@magna.com 905-726-7108 AU ...

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 ...

RBC Capital Markets, Scotiabank, TD Securities and CIBC Capital Markets are acting as joint bookrunners for the offering. This release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities, in any province or jurisdiction in which such an offer, solicitation or sale would be unlawful. The notes have not been and will not be qualified for distribution to the public by prospectus under the securities laws of any province or t ...

Shares of Magna International (MGA) have declined 4.2% since the company reported first-quarter 2024 results.  The auto equipment provider reported 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. The underperformance is attributed to lower-than-expected adjusted EBIT from Body Exteriors & Structures and Power & Vision segments.Net sales increased 2.7% from the prior-year quarter to $10.97 billion but fell ...

AURORA, Ontario, May 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today announced voting results from its 2024 annual meeting of shareholders held on May 9, 2024. A total of 230,328,916 Common Shares or 80.18% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows: a.  Election of Directors NomineeVotes FORNomineeVotes FORMary S. Chan95.27%Mary Lou Maher98.16%Hon. V. Pete ...