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Magna International Inc. (USA)

MGA

Latest Trade

54.77USD

Change

-1.06(-1.90%)

Volume

1,114,717

Today's Range

54.73

 - 

56.66

52 Week Range

22.75

 - 

57.09

As of on the New York Stock Exchange ∙ Minimum 15 minute delay

Latest Developments

Magna Names Seetarama Kotagiri Chief Executive Officer

Oct 20 (Reuters) - Magna International Inc <MG.TO>::MAGNA NAMES SEETARAMA (SWAMY) KOTAGIRI CHIEF EXECUTIVE OFFICER.MAGNA NAMES SEETARAMA (SWAMY) KOTAGIRI CHIEF EXECUTIVE OFFICER.KOTAGIRI, CURRENT MAGNA PRESIDENT AND 21-YEAR COMPANY VETERAN, TO SUCCEED DON WALKER.WALKER TO RETIRE AT END OF 2020 AFTER 15 CONSECUTIVE YEARS AS CEO.BOARD APPOINTED SEETARAMA (SWAMY) KOTAGIRI AS CHIEF EXECUTIVE OFFICER, EFFECTIVE JANUARY 1, 2021.

Fisker Announces Strategic Cooperation With Magna International

Oct 15 (Reuters) - FISKER::FISKER ANNOUNCES STRATEGIC COOPERATION WITH MAGNA INTERNATIONAL.FISKER - AGREEMENTS WITH MAGNA PROVIDES FRAMEWORK FOR STRATEGIC PLATFORM SHARING & MANUFACTURING COOPERATION FOR FISKER OCEAN SUV.FISKER - MAGNA TO BE ISSUED WARRANTS TO PURCHASE UP TO 6% OF CAPITAL STOCK OF CO POST PROPOSED DEAL BETWEEN CO, SPARTAN ENERGY ACQUISITION CORP.FISKER - FISKER OCEAN WILL INITIALLY BE MANUFACTURED EXCLUSIVELY BY MAGNA IN EUROPE.FISKER - CO TO DELIVER THE FISKER OCEAN SUV TO MARKET AT A STARTING MSRP OF $37,499.

Magna Sees H2 2020 Sales Between $17.05 Bln-$19.05 Bln Vs $18.7 Bln In 2019 - Conf Call

Aug 7 (Reuters) - Magna International Inc <MG.TO>::MAGNA PRESIDENT SAYS CHINA AND NORTH AMERICA PRODUCTION CAPACITY GETTING CLOSE TO LEVELS ANTICIPATED AT BEGINNING OF THE YEAR FOR THIS TIMEFRAME.MAGNA PRESIDENT SAYS EUROPE CAPACITY LEVELS A LITTLE BIT BEHIND CHINA AND NORTH AMERICA.MAGNA PRESIDENT SAYS, TO THIS POINT, NO MAJOR SUPPLY BASE ISSUES IMPACTING CO’S OPERATIONS.MAGNA EXPECTS H2 2020 GLOBAL VEHICLE PRODUCTION TO BE DOWN ABOUT 11%, COMPARED WITH A YEAR EARLIER, WITH NORTH AMERICA PRODUCTION DECLINING ABOUT 5% AND EUROPE FALLING 10%.MAGNA SEES H2 2020 TOTAL SALES BETWEEN $17.05 BILLION AND $19.05 BILLION VERSUS $18.7 BILLION IN 2019 - CONF CALL.MAGNA SEES H2 2020 EBIT BETWEEN $1.05 BILLION AND $1.25 BILLION VERSUS $1.15 BILLION IN 2019.MAGNA SEES H2 2020 FREE CASH FLOW BETWEEN $1.3 BILLION AND $1.5 BILLION VERSUS $1.45 BILLION IN 2019 - CONF CALL.MAGNA SAYS COULD RESUME SHARE BUYBACK IN 2021 - CONF CALL.

Magna Reports Q2 Adjusted Loss Per Share of $1.71

Aug 7 (Reuters) - Magna International Inc <MG.TO>::MAGNA ANNOUNCES SECOND QUARTER 2020 RESULTS.Q2 LOSS PER SHARE $2.17.Q2 SALES $4.3 BILLION VERSUS REFINITIV IBES ESTIMATE OF $4.1 BILLION.Q2 ADJUSTED LOSS PER SHARE $1.71.Q2 EARNINGS PER SHARE ESTIMATE $-1.57 -- REFINITIV IBES DATA.REINSTATED FINANCIAL OUTLOOK FOR 2020.SEES 2020 TOTAL SALES $30.0 BILLION TO $32.0 BILLION.SEES 2020 ADJUSTED EBIT MARGIN 2.9% TO 3.3%.MAGNA- BASED ON CO EXPECTATIONS AT BEGINNING OF THE YEAR, ESTIMATE THAT REDUCED VOLUMES IN THE QUARTER RESULTED IN LOST SALES OF ABOUT $5.5 BILLION.MAGNA INTERNATIONAL -UPDATED 2020 FINANCIAL OUTLOOK REFLECTS EXPECTATIONS OF A SOLID RECOVERY IN EARNINGS AND CASH FLOW IN SECOND HALF OF THIS YEAR.SEES FY 2020 CAPITAL SPENDING APPROXIMATELY $1.4 BILLION.

Magna Announces Senior Notes Offering

Magna International Inc <MG.TO>::MAGNA ANNOUNCES SENIOR NOTES OFFERING.MAGNA INTERNATIONAL INC - TO ISSUE U.S.$750 MILLION OF ITS SENIOR UNSECURED NOTES.MAGNA INTERNATIONAL INC - NOTES WILL BEAR INTEREST AT AN ANNUAL RATE OF 2.450% AND WILL MATURE ON JUNE 15, 2030.

Magna Reprts Q1 Earnings Per Share of $0.86

May 7 (Reuters) - Magna International Inc <MG.TO>::MAGNA ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS.Q1 ADJUSTED EARNINGS PER SHARE $0.86.Q1 EARNINGS PER SHARE $0.86.Q1 SALES $8.7 BILLION VERSUS REFINITIV IBES ESTIMATE OF $8.45 BILLION.Q1 EARNINGS PER SHARE ESTIMATE $0.75 -- REFINITIV IBES DATA.COVID-19 PANDEMIC RESULTED IN TEMPORARY SUSPENSION OF PRODUCTION AT FACILITIES IN CHINA, EUROPE AND NORTH AMERICA.UNABLE TO ASSESS IMPACT OF PANDEMIC ON FINANCIAL RESULTS FOR REMAINDER FISCAL 2020, REMAIN UNABLE AT THIS TIME TO RESUME PROVIDING AN OUTLOOK FOR YEAR.FACILITIES IN NORTH AMERICA ARE EXPECTED TO RETURN TO PRODUCTION IN STAGES OVER NEXT FEW WEEKS.ESTIMATED COVID-19 IMPACTS ON Q1 OF ABOUT $1.1 BILLION ON SALES, $250 MILLION ON INCOME FROM OPERATIONS BEFORE INCOME TAXES,ADJUSTED EBIT.PRODUCTION FACILITIES IN CHINA HAVE GENERALLY RESUMED PRODUCTION, FACILITIES IN EUROPE BEGINNING TO RETURN TO PRODUCTION.

Magna Provides Update On Current COVID-19 Actions And Withdraws Outlook

March 26 (Reuters) - Magna International Inc <MG.TO>::MAGNA PROVIDES UPDATE ON CURRENT COVID-19 ACTIONS AND WITHDRAWS OUTLOOK.MAGNA INTERNATIONAL- MANY OF CO'S FACILITIES HAVE REDUCED OR SUSPENDED OPERATIONS FOR REASONS RELATED TO COVID-19 PANDEMIC.

Magna Sees 2020 Free Cash Flow Of $1.4 Billion-$1.6 Billion - Conf Call

Feb 21 (Reuters) - Magna International Inc <MG.TO>::MAGNA INTERNATIONAL EXPECTS 2020 FREE CASH FLOW OF $1.4 BILLION-$1.6 BILLION, COMPARED TO $1.6 BILLION-$1.8 BILLION, PREVIOUSLY, DUE TO PULL FORWARD OF ABOUT $200 MILLION OF WORKING CAPITAL INTO 2019 - CONF CALL.MAGNA INTERNATIONAL CFO SAYS CONTINUES TO EXPECT ABOUT $5.5 BILLION IN FREE CASH FLOW IN THE 2020 TO 2022 TIME FRAME - CONF CALL.

Magna Reports Q4 Adjusted Earnings Of $1.41 Per Share

Feb 21 (Reuters) - Magna International Inc <MG.TO>::MAGNA ANNOUNCES FOURTH QUARTER AND 2019 RESULTS AND RAISES QUARTERLY CASH DIVIDEND PER SHARE BY 10%.Q4 ADJUSTED EARNINGS PER SHARE $1.41.Q4 EARNINGS PER SHARE $1.43.Q4 EARNINGS PER SHARE ESTIMATE $1.33 -- REFINITIV IBES DATA.Q4 SALES $9.4 BILLION VERSUS REFINITIV IBES ESTIMATE OF $9.2 BILLION.RAISED QUARTERLY CASH DIVIDEND BY 10% TO $0.40 PER SHARE.HAVE NOT INCLUDED ANY ADJUSTMENT TO 2020 OUTLOOK RELATED TO COVID-19.MAGNA INTERNATIONAL - 40-DAY LABOUR STRIKE AT GENERAL MOTORS NEGATIVELY IMPACTED SALES AND PROFITABILITY FOR BOTH Q3 AND Q4 OF 2019 OF CO.2020 OUTLOOK REMAINS UNCHANGED.MAGNA-40-DAY LABOUR STRIKE AT GM WHICH BEGAN LATE IN SEPT 2019 EXTENDED INTO LATE OCT, HAD NEGATIVE IMPACT ON NORTH AMERICAN LIGHT VEHICLE PRODUCTION.

Magna Says Expects 2020 Total Sales Between $38.0 Bln And $40.0 Bln

Jan 16 (Reuters) - Magna International Inc <MG.TO>::MAGNA ANNOUNCES OUTLOOK.FORECAST FREE CASH FLOW OF ABOUT $5.5 BILLION IN 2020-2022 PERIOD.HIGHER EBIT MARGIN EXPECTED IN 2020.SEES 2020 NORTH AMERICA LIGHT VEHICLE PRODUCTION 16.3 MILLION UNITS.SEES 2020 EUROPE LIGHT VEHICLE PRODUCTION 20.8 MILLION UNITS.SEES 2020 TOTAL SALES BETWEEN $38.0 BILLION AND $40.0 BILLION.SEES EBIT MARGIN OF 6.7% - 7% IN 2020.SEES 2020 NET INCOME ATTRIBUTABLE TO MAGNA BETWEEN $1.8 BILLION- $2.0 BILLION.CONCLUDING OUR PARTNERSHIP WITH LYFT TO CO-DEVELOP SELF-DRIVING TECHNOLOGY.

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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