Financial Data and Key Metrics Changes - In Q4 2025, sales increased by 2% to $10.8 billion, with adjusted EBIT margin expanding by 100 basis points to 7.5% [8][12] - For the full year, sales were $42 billion, slightly down due to softer volumes in North America and Europe, while adjusted EBIT margin rose by 20 basis points to 5.6% [9][12] - Adjusted EPS for Q4 rose by 29% to $2.18, and for the full year, it increased by 6% to $5.73 [8][9] - Free cash flow for the full year reached $1.9 billion, an increase of $849 million [9][18] Business Line Data and Key Metrics Changes - Three of the four segments posted higher sales year-over-year, with seating seeing an 8% increase, while complete vehicles were down 10% [16] - Body exteriors and structures, and seating segments posted strong increases in adjusted EBIT margin year-over-year [16][17] - Power and vision margins were negatively impacted by discrete items, but operational improvements are expected to drive margin expansion in 2026 [17][61] Market Data and Key Metrics Changes - Global light vehicle production was down 1% overall in Q4, with North America and China declining, while Europe saw an increase [13] - Magna's sales growth is expected to be near flat to up 3.5% in 2026, driven by new program launches and foreign currency translation benefits [21][22] Company Strategy and Development Direction - The company is focused on operational excellence initiatives, which contributed to margin expansion and are expected to continue delivering benefits in 2026 [10][27] - A disciplined approach to capital spending is emphasized, with plans to repurchase approximately 22 million shares under the NCIB [7][24] - The company aims to maintain strong free cash flow and EPS growth while reducing leverage [7][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing their capital allocation strategy and driving EPS growth alongside strong free cash flow [7][28] - The outlook for 2026 includes expectations for adjusted EBIT margin expansion of 40-100 basis points and free cash flow of $1.6 billion to $1.8 billion [7][22] Other Important Information - The company achieved significant operational milestones in 2025, including securing 90% of its 2028 business and receiving 151 customer awards for quality and performance [9][10] - The company has been recognized as one of the world's most ethical companies and most admired companies [11] Q&A Session Summary Question: Guidance for outgrowth ex complete vehicles of 1%-4% - Management attributed the outgrowth to operational excellence activities and new programs with favorable economic terms [31][34] Question: Operational excellence and commercial recoveries - Management indicated that operational excellence is a continuing journey with visibility on margin improvements, while commercial recoveries are expected to be neutral year-over-year [36][39] Question: Seating segment outlook and cost actions - Management confirmed that no incumbent seating programs have been lost, and the seating segment remains core and profitable despite some program roll-offs [44][46] Question: Free cash flow sustainability - Management expects free cash flow in the range of $1.6 billion to $1.8 billion to be sustainable, supported by disciplined CapEx [49] Question: Ford recall and warranty hit - Management clarified that one recall matter has been resolved, while another is ongoing, impacting margins in the power and vision segment [52][59] Question: Growth in power and vision segment - Management highlighted that growth is driven by new launches and operational improvements, with expectations for margin expansion in 2026 [61][62]

Financial Data and Key Metrics Changes - In Q4 2025, sales increased by 2% to $10.8 billion, with adjusted EBIT margin expanding by 100 basis points to 7.5% [7][12] - For the full year, sales were $42 billion, slightly down due to softer volumes in North America and Europe, while adjusted EBIT margin rose by 20 basis points to 5.6% [8][9] - Adjusted EPS rose by 29% in Q4 to $2.18 and increased by 6% for the full year to $5.73 [7][8] - Free cash flow for the full year reached $1.9 billion, an increase of $849 million [8][18] Business Line Data and Key Metrics Changes - Three of the four segments posted higher sales year-over-year, with seating increasing by 8%, while complete vehicles saw a decline of 10% [16] - Adjusted EBIT margin for body exteriors and structures and seating improved year-over-year, with seating margins benefiting from a warranty pool reversal [16][17] - Power and vision margins were negatively impacted by discrete items, but operational improvements are expected to drive margin expansion in 2026 [17] Market Data and Key Metrics Changes - Global light vehicle production was down 1% overall in Q4, with North America and China declining, while Europe saw an increase [13] - Magna's sales growth is expected to be near flat to up 3.5% in 2026, driven by new program launches and foreign currency translation [21] Company Strategy and Development Direction - The company is focused on operational excellence initiatives, which contributed to margin expansion and are expected to continue delivering benefits in 2026 [10][26] - A disciplined approach to capital spending is emphasized, with plans to repurchase approximately 22 million shares in 2026 while maintaining financial flexibility [6][24] - The outlook for 2026 includes expected adjusted EBIT margin expansion of 40-100 basis points and strong free cash flow [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing their capital allocation strategy and driving EPS growth alongside strong free cash flow [6][26] - The company anticipates a relatively flat light vehicle production environment overall, with slight declines in North America and China offset by increases in Europe [20][21] - Management highlighted the importance of operational excellence and customer recoveries in achieving financial targets [31][38] Other Important Information - The company achieved significant milestones in 2025, including hitting annual bookings targets and securing 90% of its 2028 business [9] - Magna was recognized as one of the world's most ethical companies and most admired companies, reflecting strong corporate governance [11] Q&A Session Summary Question: Guidance for outgrowth excluding complete vehicles - Management attributed the outgrowth guidance of 1%-4% to operational excellence activities and new program launches [29][31] Question: Operational excellence and commercial recoveries - Management confirmed that operational excellence is a continuing journey, with expectations for ongoing margin improvements [35][36] Question: Seating segment outlook - Management reassured that seating remains a core business, with no loss of incumbent programs, and highlighted the impact of program roll-offs on margins [45][46] Question: Free cash flow sustainability - Management indicated that the guidance for free cash flow in 2026 is sustainable, targeting a conversion of 100% on net income [51][52] Question: Ford recall and warranty impacts - Management clarified that one recall matter was resolved, while another is ongoing, impacting margins in the power and vision segment [54][63] Question: Growth in power and vision segment - Management noted that growth in the power and vision segment is driven by new launches and operational improvements [64][66]

February 13, 2026 Q4 & FY 2025 and 2026 Outlook 1 Q4 & FY 2025 and 2026 OUTLOOK Vice President, Investor Relations Louis Tonelli 2 Q4 & FY 2025 and 2026 OUTLOOK Forward-Looking Statements Certain statements in this document constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements"). Any such forward-looking statements are intended to provide information about management's current expectations and plans and may not be appropriate for other purposes. ...

Exhibit 99.2 FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC. (United States dollars in millions) (Unaudited) Prepared in accordance with U.S. GAAP | 2023 | 2024 | 2025 | 1st Q | 2nd Q | 3rd Q | 4th Q | 1st Q | 2nd Q | 3rd Q | 4th Q | 1st Q | 2nd Q | 3rd Q | 4th Q | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | CONSOLIDATED | BALANCE | SHEETS | | | | | | | | | | | | | | ...

Core Viewpoint - Magna International Inc. is experiencing a positive shift in analyst sentiment, reflected in the rising consensus price target, indicating expectations of growth or stability in its stock price [2][4][6] Group 1: Analyst Sentiment and Price Targets - The average price target for Magna has increased from $50 a year ago to $61 last month, showing significant growth in analyst confidence [4][6] - Three months ago, the average price target was $58.29, indicating a gradual increase in confidence regarding Magna's performance [3][6] - Citigroup analyst Itay Michaeli has set a price target of $81, suggesting potential for substantial stock price growth [2][6] Group 2: Earnings Expectations - Analysts anticipate that Magna will exceed quarterly earnings estimates, supported by the Zacks Earnings ESP tool [5] - The upcoming earnings report is expected to reflect positive growth, reinforcing the bullish outlook among analysts [4][5] Group 3: Competitive Position - Magna competes with major players like Continental AG and Bosch, offering a wide range of products and services in the automotive industry [1]

Core Viewpoint - Magna International Inc. is a leading global automotive supplier with strong anticipated growth in its Power and Vision segments, which is expected to positively impact its upcoming earnings report [1][2][6] Financial Performance Expectations - The company is set to release its quarterly earnings on February 13, 2026, with Wall Street forecasting an earnings per share (EPS) of $1.81 and projected revenue of approximately $10.54 billion [2][6] - There is high anticipation that Magna will surpass these earnings estimates due to robust performance in its key segments [2][6] Competitive Landscape - In comparison to competitors, AAP is projected to achieve a significant 136% growth in EPS, while its revenues may decline by 2%, and DCH is expected to report a wider Q4 loss despite an increase in revenue [3] - These mixed results among competitors highlight the importance of Magna's upcoming earnings report in influencing investor sentiment [3] Financial Metrics - Magna's price-to-earnings (P/E) ratio is approximately 15.76, indicating that investors are willing to pay $15.76 for every dollar of earnings [4][6] - The company's price-to-sales ratio is about 0.39, suggesting a relatively low valuation compared to its sales [4] - The enterprise value to sales ratio is around 0.54, reflecting its total valuation in relation to sales [4] - The enterprise value to operating cash flow ratio is approximately 6.35, indicating efficient cash flow conversion [5] - Magna's debt-to-equity ratio is about 0.59, showing a moderate level of debt compared to equity [5] - A current ratio of 1.18 suggests reasonable liquidity to cover short-term liabilities [5]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Magna (MGA) despite lower revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - Magna is expected to report quarterly earnings of $1.81 per share, reflecting a year-over-year increase of +7.1% [3]. - Revenues are projected to be $10.48 billion, which is a decrease of 1.4% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 1.11% higher in the last 30 days, indicating a positive reassessment by analysts [4]. - The Most Accurate Estimate for Magna is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +3.87% [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10]. - Magna currently holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Magna exceeded the expected earnings of $1.24 per share by delivering $1.33, resulting in a surprise of +7.26% [13]. - Over the past four quarters, Magna has beaten consensus EPS estimates three times [14]. Industry Context - Another player in the automotive supply industry, BorgWarner (BWA), is expected to report earnings of $1.16 per share, with a year-over-year change of +14.9% and revenues of $3.51 billion, up 2.1% [18][19]. - BorgWarner also has a positive Earnings ESP of +2.61% and a Zacks Rank of 3, suggesting a likelihood of beating consensus EPS estimates [20].

Core Viewpoint - Magna (MGA) is positioned to potentially continue its earnings-beat streak in the upcoming report, supported by a strong earnings history and positive analyst sentiment [1]. Earnings Performance - For the last reported quarter, Magna achieved earnings of $1.33 per share, exceeding the Zacks Consensus Estimate of $1.24 per share, resulting in a surprise of 7.26% [2]. - In the previous quarter, Magna's earnings were $1.44 per share against an expected $1.19 per share, delivering a surprise of 21.01% [2]. Analyst Sentiment - Recent estimates for Magna have been increasing, with a positive Earnings ESP (Expected Surprise Prediction) indicating a favorable outlook for earnings performance [5]. - The current Earnings ESP for Magna is +3.87%, suggesting that analysts are optimistic about the company's near-term earnings potential [8]. Zacks Rank and Predictive Power - Magna holds a Zacks Rank of 2 (Buy), which, when combined with a positive Earnings ESP, indicates a high likelihood of another earnings beat [8]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have historically produced a positive surprise nearly 70% of the time [6].

Core Viewpoint - Magna International Inc. is set to announce its Q4 and year-end 2025 results along with its 2026 outlook during a live audio webcast on February 13, 2026, at 8:00 AM ET [1]. Group 1: Event Details - The live audio webcast registration is available online [1]. - Participants can join the call using toll-free and toll dial-in numbers, with a specific conference ID provided [2]. - A slide presentation will be accessible on the company's investor relations website prior to the call [2]. Group 2: Rebroadcast Information - A replay of the call will be available two hours after the live event until February 20, 2026, with dedicated dial-in numbers for the rebroadcast [2]. Group 3: Company Overview - Magna International is recognized as one of the largest automotive suppliers globally, serving major markets including North America, Europe, and China [3]. - The company operates in 28 countries, leveraging its extensive experience and manufacturing expertise to deliver high performance, safety, and quality in vehicle systems [3].

Core Insights - Value investing remains a preferred strategy for identifying strong stocks across various market conditions, utilizing fundamental analysis and traditional valuation metrics to find undervalued stocks [2] Company Analysis - Magna International (MGA) is currently rated with a Zacks Rank 2 (Buy) and has received an A grade for Value, indicating strong potential for value investors [4] - MGA's P/E ratio stands at 8.47, significantly lower than the industry average of 18.18, suggesting that the stock may be undervalued [4] - The Forward P/E for MGA has fluctuated between 5.65 and 8.47 over the past year, with a median of 6.79, indicating a stable earnings outlook [4] - The P/S ratio for MGA is 0.38, compared to the industry average of 0.79, further supporting the notion that MGA is undervalued [5] - Overall, MGA's metrics indicate it is one of the strongest value stocks in the market, particularly when considering its earnings outlook [6]