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Magna International Inc MGA Stock Quote

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Morningstar‘s Stock Analysis MGA

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Magna Q2 Results Hit by Industry Headwinds, Tweaks 2022 Guidance; Slight FVE Increase to $82

Richard Hilgert Senior Equity Analyst

Analyst Note

| Richard Hilgert |

No-moat Magna reported second-quarter revenue and earnings per share before special items (including a $376 million impairment charge for Russian operations), or EPS, of $0.83, $0.12 below the FactSet consensus estimate of $0.95. Revenue increased 4% to $9.4 billion from $9.0 billion reported last year, thanks to China COVID-19 lockdowns, the Russia-Ukraine crisis, and the chip crunch that caused sporadic customer production, but roughly 5% above consensus. Organic revenue, excluding unfavorable currency effect, increased 8%, outperforming a 4% increase in global light vehicle production, weighted to Magna’s customer base, by 4 percentage points.

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Company Profile MGA

Business Description

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly. Roughly 46% of Magna's revenue comes from North America while Europe accounts for approximately 43%.

337 Magna Drive
Aurora, ON, L4G 7K1, Canada
T +1 905 726-2462
Industry Auto Parts
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2021
Stock Type
Employees 161,000

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