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Magna International (TSE:MG)
:MG
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Earnings Data
Report Date
Feb 14, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
2.15Last Year’s EPS
1.79Same Quarter Last Year
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 8.00%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Neutral
The earnings call reflects a balanced sentiment. While there are significant achievements in terms of free cash flow generation, capital discipline, and operational improvements, these are offset by challenges such as declining sales, higher income tax rates, and reduced production volumes in key markets.Company Guidance
During the Magna International Q3 2024 earnings call, the company provided updated guidance for the year, reflecting resilience in a challenging environment. Despite a 4% drop in global vehicle production, Magna achieved an adjusted EBIT margin of 5.8%, consistent with Q3 2023. For 2024, they forecast an adjusted EBIT margin between 5.4% and 5.5%, focusing on operational excellence contributing 75 basis points to margin expansion over 2024 and 2025. The company reduced its capital expenditure expectations by $300 million for 2024, maintaining a free cash flow forecast of $600 million to $800 million. Magna plans to restart significant share repurchases this quarter, supported by a robust liquidity position of $3.7 billion, including $1.1 billion in cash, and a commitment to returning capital to shareholders.Strong Free Cash Flow and Capital Discipline
Free cash flow generated in Q3 2024 was $174 million, a significant increase from $23 million in Q3 2023. The company maintains its free cash flow outlook range at $600 million to $800 million for 2024.
Share Repurchase Plan
Magna's Board approved a share repurchase plan for up to 10% of the company's public float, indicating confidence in free cash flow and commitment to returning capital to shareholders.
Operational Excellence and Cost Savings
Operational excellence activities are on track to contribute about 75 basis points to margin expansion during 2024 and 2025. The company has reduced its expected CapEx range by up to $300 million for 2024.
Improved EBIT Margins
Adjusted EBIT was $594 million, up $17 million from Q2 2024, with a margin of 5.8%, despite a 4% decrease in global vehicle production.
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TSE:MG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:MG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 01, 2024 | C$54.38 | C$57.91 | +6.50% |
| Aug 02, 2024 | C$58.30 | C$54.82 | -5.97% |
| May 03, 2024 | C$64.09 | C$61.85 | -3.49% |
| Feb 09, 2024 | C$75.72 | C$70.61 | -6.74% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Magna International (TSE:MG) report earnings?
Magna International (TSE:MG) is schdueled to report earning on Feb 14, 2025, TBA Not Confirmed.
What is Magna International (TSE:MG) earnings time?
Magna International (TSE:MG) earnings time is at Feb 14, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:MG EPS forecast?
TSE:MG EPS forecast for the fiscal quarter 2024 (Q4) is 2.15.
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