Edition:
India

Magna International Inc (MG.TO)

MG.TO on Toronto Stock Exchange

82.19CAD
9:55pm IST
Change (% chg)

$2.21 (+2.76%)
Prev Close
$79.98
Open
$81.16
Day's High
$82.30
Day's Low
$80.42
Volume
361,544
Avg. Vol
1,056,175
52-wk High
$82.30
52-wk Low
$33.22

Latest Key Developments (Source: Significant Developments)

Magna Says Q3 Adjusted Earnings Per Share Of $1.95
Friday, 6 Nov 2020 

Nov 6 (Reuters) - Magna International Inc ::MAGNA ANNOUNCES THIRD QUARTER 2020 RESULTS.Q3 ADJUSTED EARNINGS PER SHARE $1.95.Q3 EARNINGS PER SHARE $1.35.Q3 EARNINGS PER SHARE ESTIMATE $1.33 -- REFINITIV IBES DATA.Q3 SALES $9.1 BILLION VERSUS REFINITIV IBES ESTIMATE OF $9.07 BILLION.SEES FY 2020 TOTAL SALES BETWEEN $31.5 - $32.5 BILLION.SEES FY 2020 ADJUSTED EBIT MARGIN OF 4.0% - 4.4%.MAGNA INTERNATIONAL - SEES FY 2020 CAPITAL SPENDING OF APPROXIMATELY $1.3 BILLION.SEES FY 2020 NET INCOME ATTRIBUTABLE TO MAGNA IN THE RANGE OF $850 MILLION - $975 MILLION.  Full Article

Fisker Announces Strategic Cooperation With Magna International
Thursday, 15 Oct 2020 

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.  Full Article

Magna Sees H2 2020 Sales Between $17.05 Bln-$19.05 Bln Vs $18.7 Bln In 2019 - Conf Call
Friday, 7 Aug 2020 

Aug 7 (Reuters) - Magna International Inc ::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.  Full Article

Magna Reports Q2 Adjusted Loss Per Share of $1.71
Friday, 7 Aug 2020 

Aug 7 (Reuters) - Magna International Inc ::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.  Full Article

Magna Provides Update On Current COVID-19 Actions And Withdraws Outlook
Friday, 27 Mar 2020 

March 26 (Reuters) - Magna International Inc ::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.  Full Article

Magna Sees 2020 Free Cash Flow Of $1.4 Billion-$1.6 Billion - Conf Call
Friday, 21 Feb 2020 

Feb 21 (Reuters) - Magna International Inc ::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.  Full Article

Magna Reports Q4 Adjusted Earnings Of $1.41 Per Share
Friday, 21 Feb 2020 

Feb 21 (Reuters) - Magna International Inc ::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.  Full Article

Magna Says Co To Acquire Wipac Czech S.R.O.
Wednesday, 20 Nov 2019 

Nov 20 (Reuters) - Magna International Inc ::MAGNA TO ACQUIRE WIPAC CZECH S.R.O., EXPAND LIGHTING CAPABILITIES.  Full Article

Magna Says GM Strike Likely To Reduce 2019 Revenue By About $500 Mln
Friday, 8 Nov 2019 

Nov 8 (Reuters) - Magna International Inc ::MAGNA INTERNATIONAL SAYS GETRAG JOINT-VENTURES HAVE HAD CHALLENGES, INCLUDING DECLINING TAKE-RATES FOR MANUAL TRANSMISSIONS AND LOWER VOLUMES IN CHINA - CONF CALL.MAGNA INTERNATIONAL SAYS BUSINESS PLANNING ACTIVITY HAS LED TO LOWER VOLUME AND FREE CASH FLOW PROJECTIONS FOR GETRAG’S JVS, RESULTING IN $537 MILLION IMPAIRMENT CHARGE - CONF CALL.MAGNA INTERNATIONAL SAYS WOULDN’T ANTICIPATE ANYTHING TO CHANGE MUCH FOR MAGNA IN THE NEAR TERM DUE TO THE FIAT CHRYSLER AND PEUGEOT DEAL - CONF CALL.MAGNA INTERNATIONAL SAYS GM STRIKE LIKELY TO REDUCE 2019 REVENUE BY ABOUT $500 MILLION - CONF CALL.MAGNA INTERNATIONAL SAYS GM STRIKE LIKELY TO HAVE A NEGATIVE 30 BASIS IMPACT TO CONSOLIDATED MARGINS FOR 2019 - CONF CALL.MAGNA INTERNATIONAL SAYS CONTINUED SOFTNESS IN CHINA WILL TRANSLATE INTO SOME HEADWINDS ON EQUITY INCOME POST 2019 COMPARED TO CO’S PRIOR EXPECTATION- CONF CALL.  Full Article

Magna Reports Q3 Adjusted Earnings Of $1.41 Per Share
Friday, 8 Nov 2019 

Nov 8 (Reuters) - Magna International Inc ::MAGNA ANNOUNCES THIRD QUARTER RESULTS.Q3 ADJUSTED EARNINGS PER SHARE $1.41.Q3 EARNINGS PER SHARE ESTIMATE $1.34 -- REFINITIV IBES DATA.Q3 LOSS PER SHARE $0.75.Q3 SALES $9.32 BILLION VERSUS REFINITIV IBES ESTIMATE OF $9.33 BILLION.2019 OUTLOOK REDUCED LARGELY TO REFLECT ESTIMATED IMPACT OF GM STRIKE AND HIGHER LAUNCH COSTS.SEES 2019 TOTAL SALES IN RANGE OF $38.7 BILLION TO $39.8 BILLION.SEES 2019 CAPITAL SPENDING ABOUT $1.6 BILLION.SEES 2019 NET INCOME ATTRIBUTABLE TO MAGNA $1.8 BILLION TO $1.9 BILLION.SEES 2019 LIGHT VEHICLE PRODUCTION 16.3 MILLION UNITS IN NORTH AMERICA AND 21.4 MILLION UNITS IN EUROPE.LABOUR STRIKE AT GENERAL MOTORS REDUCED CO'S THIRD QUARTER SALES.  Full Article

CANADA STOCKS-TSX opens higher on job additions, strong earnings

Nov 6 Canada's main stock index opened higher on Friday boosted by data showing the country added more jobs in October and strong earnings from Magna International Inc and Enbridge Inc.