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home / news releases / magna international growth under the hood not likely

MG:CC - Magna International: Growth Under The Hood? Not Likely

Magna International Inc.

2024-05-28 07:56:23 ET

Summary

  • Magna International's Q1 2024 results disappointed analysts' expectations, with sales up marginally.
  • The company cut its guidance for total sales, citing a relatively flat vehicle production environment in key markets.
  • Magna's leverage has increased over the past two years, and it may struggle to meet its targeted leverage ratio by the end of 2025.
  • While consensus seems to have a bullish view, most of the growth is expected to come from multiple expansion.
  • I don't foresee much growth and expect the company will have difficulty achieving its 2026 targets.

Please note all $ figures in , not , unless otherwise stated.

Introduction

For further details see:

Magna International: Growth Under The Hood? Not Likely
Stock Information
Company Name: Magna International Inc.
Stock Symbol: MG:CC
Market: TSXC
Website: magna.com
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