Magna(US:MGA)2022-07-29 13:58Q2 2022 Performance - Consolidated sales reached $9.4 billion, a 4% increase[9] - Adjusted EBIT margin was 3.8%, a decrease of 240 basis points[9] - Adjusted diluted EPS was $0.83, a 41% decrease[9] - Free cash flow was $52 million[9] Sales and Production - Weighted Growth over Market (GoM) was +4%[9] - Global light vehicle production increased by 2%[14] - North America production increased by 14%, while Europe decreased by 1% and China decreased by 5%[14] - Organic sales grew by 12%[32] Financial Outlook - The company modestly increased its 2022 outlook for sales, despite a stronger USD[7] - Total sales are projected to be between $37.6 billion and $39.2 billion[23] - Adjusted EBIT margin is expected to be between 5.0% and 5.4%[23] - Free cash flow is expected to be between $0.7 billion and $0.9 billion[25] Capital Allocation - The company repurchased 3.5 million shares for $212 million[10] - $130 million was paid out in dividends[10]