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March 3, 2014
05:54 EDTMGAMagna reports Q4 EPS $2.03, consensus $1.54
Reports Q4 revenue $9.17B, consensus $8.87B. The company achieved this sales increase in a period when vehicle production increased 6% in North America and 5% in Europe, both relative to 4Q12. In Q4, the company's North American, European, and Asian production sales, as well as tooling, engineering and other sales and complete vehicle assembly sales all increased while the company's Rest of World production sales declined relative to the comparable quarter in 2012. Complete vehicle assembly sales increased 13% to $788M for Q4 compared to $697M for the 4Q12, while complete vehicle assembly volumes increased 17% to approximately 37,000 units. Q4 adjusted EBIT increased 57% to $607M compared to $387M for 4Q12.
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September 19, 2014
05:21 EDTMGAMagna announces cooperation regarding regulatory investigation
Magna International announced that the CADE, Brazil's competition authority, has attended at the offices of a subsidiary in Brazil, in connection with an ongoing antitrust investigation. Magna's policy is to comply with all applicable laws, including antitrust and competition laws, and we intend to cooperate with CADE in this investigation.
September 17, 2014
17:23 EDTMGAMagna obtains issuer bid exemption order to allow purchases by private agreement
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