Auto parts maker Magna misses profit estimates as costs bite
Saturday, July 30, 2022
© Reuters. FILE PHOTO: Magna logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay (Reuters) -Canadian auto parts maker Magna International (NYSE:MGA) Inc reported a lower-than-expected quarterly profit on Friday, hit by higher commodity and energy costs worsened by Russia's invasion of Ukraine.
The conflict in eastern European has exacerbated input costs including those for freight, energy, commodity and labor for auto firms, which were already reeling from supply snarls due to China's COVID lockdowns.
Magna, which operates six plants in Russia that employed 2,500 people, said its facilities remain substantially idled and production is not expected to resume before 2024.
The Aurora, Canada-based manufacturer flagged reduced earnings on lower sales at facilities in Russia and recorded non-cash impairment charges of $376 million for the second quarter ended June 30, related to its investment in Russia.
The company, which makes parts such as body structures, chassis and powertrain for customers including Ford Motor (NYSE:F) and Volkswagen (ETR:VOWG_p), expects the ongoing cost pressures to continue through the year.
Magna's quarterly net sales rose 3.6% to $9.36 billion, helped by an increase in prices and higher global light vehicle production.
Excluding items, it reported a profit of 83 cents per share, compared to analysts' estimates of 94 cents per share, according to Refinitiv data.
Leave your comment
APPROVED BROKERS
16-08-2022 20:11:50 (UTC+7)
EUR/USD
1.0151
-0.0008 (-0.08%)
Summary
BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (5)
Sell (4)
EUR/USD
1.0151
-0.0008 (-0.08%)
Summary
BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (5)
Sell (4)
GBP/USD
1.2056
+0.0002 (+0.02%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (0)
USD/JPY
134.49
+1.17 (+0.88%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (8)
AUD/USD
0.7008
-0.0014 (-0.20%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (9)
Sell (1)
USD/CAD
1.2891
-0.0013 (-0.10%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (6)
Sell (2)
EUR/JPY
136.54
+1.09 (+0.80%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (3)
Sell (6)
EUR/CHF
0.9641
+0.0027 (+0.28%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (2)
Gold Futures
1,789.05
-9.05 (-0.50%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (7)
Sell (1)
Silver Futures
19.992
-0.280 (-1.38%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (8)
Sell (0)
Copper Futures
3.6210
+0.0035 (+0.10%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (3)
Sell (3)
Crude Oil WTI Futures
89.19
-0.22 (-0.25%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
Brent Oil Futures
94.70
-0.40 (-0.42%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (9)
Natural Gas Futures
9.242
+0.514 (+5.89%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (3)
Sell (6)
US Coffee C Futures
222.88
-2.62 (-1.16%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
Euro Stoxx 50
3,792.25
+2.63 (+0.07%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (8)
Sell (1)
S&P 500
4,297.14
+16.99 (+0.40%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (4)
DAX
13,845.60
+28.99 (+0.21%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (6)
Sell (1)
FTSE 100
7,543.60
+34.45 (+0.46%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (4)
Sell (4)
Hang Seng
19,830.52
-210.34 (-1.05%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (9)
Sell (0)
US Small Cap 2000
2,020.40
+7.30 (+0.36%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (1)
IBEX 35
8,479.50
+52.50 (+0.62%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (5)
Sell (2)
BASF SE NA O.N.
44.157
+0.097 (+0.22%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (7)
Sell (1)
Bayer AG NA
54.05
+0.49 (+0.91%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
Allianz SE VNA O.N.
179.40
+0.62 (+0.35%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Adidas AG
170.63
-2.31 (-1.34%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (9)
Sell (0)
Deutsche Lufthansa AG
6.720
-0.014 (-0.21%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (2)
Sell (4)
Siemens AG Class N
111.38
-0.82 (-0.73%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (7)
Sell (0)
Deutsche Bank AG
8.982
+0.040 (+0.45%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (5)
Sell (2)
| EUR/USD | 1.0151 | Buy | |||
| GBP/USD | 1.2056 | ↑ Buy | |||
| USD/JPY | 134.49 | ↑ Sell | |||
| AUD/USD | 0.7008 | ↑ Buy | |||
| USD/CAD | 1.2891 | Buy | |||
| EUR/JPY | 136.54 | Neutral | |||
| EUR/CHF | 0.9641 | ↑ Buy |
| Gold | 1,789.05 | ↑ Sell | |||
| Silver | 19.992 | Buy | |||
| Copper | 3.6210 | Neutral | |||
| Crude Oil WTI | 89.19 | ↑ Sell | |||
| Brent Oil | 94.70 | ↑ Sell | |||
| Natural Gas | 9.242 | Neutral | |||
| US Coffee C | 222.88 | ↑ Sell |
| Euro Stoxx 50 | 3,792.25 | Buy | |||
| S&P 500 | 4,297.14 | Neutral | |||
| DAX | 13,845.60 | ↑ Buy | |||
| FTSE 100 | 7,543.60 | Neutral | |||
| Hang Seng | 19,830.52 | ↑ Buy | |||
| Small Cap 2000 | 2,020.40 | ↑ Buy | |||
| IBEX 35 | 8,479.50 | Neutral |
| BASF | 44.157 | Buy | |||
| Bayer | 54.05 | ↑ Buy | |||
| Allianz | 179.40 | ↑ Sell | |||
| Adidas | 170.63 | ↑ Buy | |||
| Lufthansa | 6.720 | Neutral | |||
| Siemens AG | 111.38 | ↑ Buy | |||
| Deutsche Bank AG | 8.982 | Neutral |
| Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
|---|---|
| SJC Eximbank | 6,580 / 6,680 (-10  / -10) # 1,639 |
| SJC HCM | 6,600/ 6,700 (-10 / -10) # 1,659 |
| SJC Hanoi | 6,600/ 6,702 (-10 / -10) # 1,661 |
| SJC Danang | 6,600/ 6,702 (-10 / -10) # 1,661 |
| SJC Nhatrang | 6,600/ 6,702 (-10 / -10) # 1,661 |
| SJC Cantho | 6,600/ 6,702 (-10 / -10) # 1,661 |
| Cập nhật 16-08-2022 20:11:52 | |
| Xem lịch sử giá vàng SJC: nhấn đây! | |
| ↀ Giá vàng thế giới | ||
|---|---|---|
| $1,775.13 | -3.35 | -0.19% |
| ʘ Giá bán lẻ xăng dầu | ||
|---|---|---|
| Sản phẩm | Vùng 1 | Vùng 2 |
| RON 95-V | 25.340 | 25.840 |
| RON 95-III | 24.660 | 25.150 |
| E5 RON 92-II | 23.720 | 24.190 |
| DO 0.05S | 22.900 | 23.350 |
| DO 0,001S-V | 24.880 | 25.370 |
| Dầu hỏa 2-K | 23.320 | 23.780 |
| ↂ Giá dầu thô thế giới | |||
|---|---|---|---|
| WTI | $89.19 | -1.34 | -1.50% |
| Brent | $94.70 | -0.92 | -0.97% |
| $ Tỷ giá Vietcombank | ||
|---|---|---|
| Ngoại tệ | Mua vào | Bán ra |
| USD | 23.230,00 | 23.540,00 |
| EUR | 23.145,55 | 24.441,71 |
| GBP | 27.456,84 | 28.627,78 |
| JPY | 171,08 | 181,12 |
| KRW | 15,43 | 18,80 |
| Cập nhật lúc 18:54:08 16/08/2022 Xem bảng tỷ giá hối đoái | ||
