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Magna International Inc (MG.TO)

MG.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Magna Announces Senior Notes Offering
Tuesday, 9 Jun 2020 

Magna International Inc ::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.  Full Article

Magna Reprts Q1 Earnings Per Share of $0.86
Thursday, 7 May 2020 

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

Magna Says Expects 2020 Total Sales Between $38.0 Bln And $40.0 Bln
Thursday, 16 Jan 2020 

Jan 16 (Reuters) - Magna International Inc ::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.  Full Article

Magna Continues To Expand In Morocco With New Mirrors Facility
Tuesday, 23 Apr 2019 

April 23 (Reuters) - Magna International Inc ::MAGNA CONTINUES TO EXPAND IN MOROCCO WITH NEW MIRRORS FACILITY.MAGNA INTERNATIONAL INC - 61,400-SQFT FACILITY REPRESENTS AN INVESTMENT OF $11.3 MILLION BY CO AND IS EXPECTED TO CREATE UP TO 275 JOBS IN MOROCCO.  Full Article

Magna International Says Tariffs Continue To Hurt Us, With Steel And Aluminium Tariffs Mainly Hurting U.S. Plants Right Now- Conf Call
Friday, 22 Feb 2019 

Feb 22 (Reuters) - Magna International Inc ::IN NORTH AMERICA VOLUMES, WE SEE ABOUT 1% DOWN IN H1 2019, ABOUT 1% UP IN H2 2019 AND FLAT FOR THE YEAR - CONF CALL.EXPECTS VOLUMES IN CHINA TO BE FLAT YEAR-OVER-YEAR IN 2019 - CONF CALL.TARIFFS CONTINUE TO HURT US, WITH STEEL AND ALUMINIUM TARIFFS MAINLY HURTING U.S. PLANTS RIGHT NOW- CONF CALL.  Full Article

Magna To Build The Toyota GR Supra
Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - Magna International Inc ::MAGNA TO BUILD THE TOYOTA GR SUPRA.MAGNA INTERNATIONAL - TOYOTA GR SUPRA IS EXPECTED TO BEGIN PRODUCTION IN EARLY 2019.  Full Article

Magna Announces Outlook
Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - Magna International Inc ::MAGNA ANNOUNCES OUTLOOK.FREE CASH FLOW IS EXPECTED TO INCREASE TO A CUMULATIVE TOTAL OF MORE THAN $6.5 BILLION IN 2019-2021 TIMEFRAME.FOR 2019, SALES ARE EXPECTED TO BE NEGATIVELY IMPACTED BY ANNOUNCED DISPOSITION OF FLUID PRESSURE & CONTROLS BUSINES.FOR 2019 SEES CAPITAL SPENDING ABOUT $1.7 BILLION.OUTLOOK ANTICIPATES A SLIGHT DECLINE IN OUR EBIT MARGIN IN 2019.OUTLOOK TO 2021 ANTICIPATES CONTINUED GROWTH IN TOTAL SALES AND IMPROVEMENT IN OUR EBIT MARGIN COMPARED TO 2018.SEES 2019 TOTAL SALES $40.2 - $42.4 BILLION.FOR 2019 SEES NET INCOME ATTRIBUTABLE TO MAGNA $2.1 BILLION - $2.3 BILLION.OUTLOOK REFLECTS DIVESTITURE OF FLUID PRESSURE & CONTROLS BUSINESS, WHICH IS EXPECTED TO OCCUR AT THE END OF Q1 2019.NORTH AMERICAN BUSINESS REFLECTS NEGATIVE IMPACT OF RECENTLY ANNOUNCED GENERAL MOTORS ASSEMBLY PLANT ACTIONS.SEES 2021 TOTAL SALES $42.4 BILLION TO $45.4 BILLION.SEES IN 2021 EUROPE LIGHT VEHICLE PRODUCTION 22.9 MILLION UNITS.  Full Article

Magna Acquires Viza Geca To Bolster Its Seating Capabilities
Tuesday, 18 Dec 2018 

Dec 18 (Reuters) - Magna International Inc ::MAGNA ACQUIRES VIZA GECA TO BOLSTER ITS SEATING CAPABILITIES.MAGNA TO ADD FOUR FACILITIES AND MORE THAN 1,100 EMPLOYEES.SIGNED AN AGREEMENT TO ACQUIRE VIZA GECA SL OF SPAIN, WHICH OPERATES FOUR PRODUCTION FACILITIES.  Full Article

Magna International Says Not Changing Expectations For China - Conf Call
Thursday, 8 Nov 2018 

Nov 8 (Reuters) - Magna International Inc ::SAYS NOT CHANGING EXPECTATIONS FOR CHINA - CONF CALL.SAYS HOPING BY THE END OF THE YEAR TARIFFS BETWEEN U.S. AND CANADA GO AWAY - CONF CALL.EXPECTS CHINA VOLUMES TO BE DOWN 6 PERCENT IN Q4 - CONF CALL.  Full Article

Magna International Inc Says Made A Minority Equity Investment In Rohinni
Tuesday, 28 Aug 2018 

Aug 28 (Reuters) - Magna International Inc ::MAGNA INTERNATIONAL - MADE A MINORITY EQUITY INVESTMENT IN ROHINNI.MAGNA INTERNATIONAL INC - MAGNA AND ROHINNI FORM JV.  Full Article

UPDATE 2-Fisker has tentative deal for Magna to build its electric SUV in Austria

DETROIT, Aug 7 Electric carmaker Fisker Inc, which recently announced plans to go public through a merger with a so-called blank-check company, said on Friday it has a tentative deal for Canadian auto supplier Magna International Inc to build its Ocean electric SUV.