MG.TO - Magna International Inc.

Edited Transcript of MG.TO earnings conference call or presentation 8-Aug-19 12:00pm GMT

Q2 2019 Magna International Inc Earnings Call

Magna International Manages Modest Earnings Beat On Global Auto Slowdown

Magna International (NYSE: MGA ), the Ontario-based automotive parts supplier and largest auto parts manufacturer in North America, reported its financial results for the second quarter before markets ...

UPDATE 2-Canada's Magna trims sales forecast in trade war hit

Canada's Magna International Inc trimmed its sales forecast for the second time this year, as weak global demand and the impact of U.S.-China trade tensions pushed down vehicle production in North America and Europe. Automakers have warned that tariffs on metals and other items resulting from President Donald Trump's trade war with China will add billions of dollars in costs to vehicle production and assembly. The company had previously cut its forecast in May, citing higher-than-expected costs in certain advanced driver assistance systems programs, lower anticipated sales from a transmission joint venture in China and a decline in vehicle production.

Canada's Magna trims sales forecast in trade war hit

Automakers have warned that tariffs on metals and other items resulting from President Donald Trump's trade war with China will add billions of dollars in costs to vehicle production and assembly. The company had previously cut its forecast in May, citing higher-than-expected costs in certain advanced driver assistance systems programs, lower anticipated sales from a transmission joint venture in China and a decline in vehicle production.

Canadian auto parts maker Magna International's profit falls 27.8%

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See what the IHS Markit Score report has to say about Magna International Inc.

Magna International Inc NYSE:MGAView full report here! Summary * Perception of the company's creditworthiness is neutral * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for MGA with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting MGA. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold MGA had net inflows of $1.05 billion over the last one-month. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. MGA credit default swap spreads are decreasing, indicating some improvement in the market's perception of the company's credit worthiness. Additionally, they are within the middle of the range set over the last three years.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

Edited Transcript of MG.TO earnings conference call or presentation 9-May-19 12:30pm GMT

Q1 2019 Magna International Inc Earnings Call

Canada's Magna International misses profit estimates, lowers full-year outlook

Canadian auto parts maker Magna International Inc on Thursday lowered its 2019 profit forecast, as it expects higher costs on certain programs and lower earnings from a transmission joint venture in China. Magna said it expects net income attributable to the company to be between $1.9 billion and $2.1 billion this year, lower than an earlier estimate of $2.1 billion to $2.3 billion. The on-going tariff war between the United States and China has hurt Magna, one of North America's biggest auto parts maker, as the sector grapples with higher metal prices after the Trump administration imposed tariffs on steel and aluminum imports last year, triggering retaliation.

Magna: 1Q Earnings Snapshot

The Aurora, Ontario-based company said it had profit of $3.39 per share. Earnings, adjusted for non-recurring gains, were $1.63 per share. The results did not meet Wall Street expectations. The average ...

Canada's Magna International quarterly profit rises 68 pct

Canadian auto parts maker Magna International Inc said its first-quarter profit surged nearly 68 percent, boosted by sale of some businesses and gains from investments. Net income attributable to Magna ...