NYSE$MGA
Magna International Inc · Q2 2024 earnings
Q2 2024 earnings · · Before market open · Investor relations
Briefing
Magna International reported Q2 2024 sales of $11.0 billion, essentially unchanged year-over-year, with diluted EPS of $1.09 and adjusted diluted EPS of $1.35.
Magna International Inc. announced financial results for the second quarter ended June 30, 2024. Sales were $10.958 billion, level with the prior year despite a 2% increase in global light vehicle production. Adjusted EBIT was $577 million, down from $616 million in Q2 2023, while net income attributable to Magna was $313 million.
- Sales of $10.958 billion were essentially flat year-over-year, impacted by program endings and foreign exchange but offset by production increases and new launches.
- Adjusted EBIT declined to $577 million (5.3% margin) from $616 million (5.6% margin) due to lower Complete Vehicles volumes, warranty costs, and FX impacts.
- Diluted EPS was $1.09 and adjusted diluted EPS was $1.35, compared to $1.18 and $1.54 in Q2 2023.
- Company paid $134 million in dividends and updated 2024 outlook with Adjusted EBIT margin narrowed to 5.4%-5.8%.
Headline financials
Revenue & EPS history
Magna · Revenue · Quarterly
$11B
Revenue by segment
Magna · $11.1B total across 4 segments · Q2 2024
- Body Exteriors & Structures$4.47B—40.3%
- Power & Vision$3.93B—35.4%
- Seating Systems$1.46B—13.1%
- Complete Vehicles$1.24B—11.2%
Forward guidance
2024 outlook largely unchanged with total sales $42.5-$44.1 billion and Adjusted EBIT margin narrowed to 5.4%-5.8%.
Tailwinds
- Productivity and efficiency improvements continuing
- Commercial discussions supporting margin maintenance
Headwinds
- Lower than anticipated volumes on certain programs
- End of production for certain programs including BMW 5-Series
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+1.7%
Avg return
Earnings day
+1.0%
Avg return
5 days after
-0.2%
Avg return
30 days after
62%
31 / 50 earnings
Positive
+18.9%
Q4 2025
Best reaction
-13.4%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2024 | — | — | — | |
| Q1 2026 | -4.4% | +3.7% | +11.9% | |
| Q4 2025 | +18.9% | +15.6% | -4.8% | |
| Q3 2025 | +10.3% | +11.8% | +9.4% | |
| Q2 2025 | +0.8% | +2.4% | +12.0% | |
| Q1 2025 | -5.8% | -4.7% | +3.6% | |
| Q4 2024 | -4.6% | -3.8% | -8.2% | |
| Q3 2024 | +6.3% | +6.7% | +14.4% | |
| Q4 2023 | -5.2% | -7.8% | -7.1% | |
| Q3 2023 | +8.6% | +5.6% | +13.5% | |
| Q2 2023 | -3.1% | -5.9% | -6.5% | |
| Q1 2023 | +8.7% | +4.8% | +1.9% | |
| Q4 2022 | -13.4% | -12.4% | -18.7% | |
| Q3 2022 | +2.4% | +0.3% | +11.0% | |
| Q2 2022 | +0.6% | +1.5% | -7.6% | |
| Q1 2022 | -2.7% | +0.6% | +2.4% | |
| Q4 2021 | -5.4% | -1.5% | -28.2% | |
| Q3 2021 | +1.6% | -0.6% | -8.2% | |
| Q2 2021 | -0.4% | +2.8% | -4.8% | |
| Q1 2021 | +4.9% | -0.5% | +10.5% | |
| Q4 2020 | +15.0% | +15.1% | +21.7% | |
| Q3 2020 | +9.0% | +8.5% | +14.7% | |
| Q2 2020 | +3.0% | +8.7% | -0.8% | |
| Q1 2020 | +8.9% | +3.0% | +28.4% | |
| Q4 2019 | -5.3% | -10.7% | -50.7% | |
| Q3 2019 | -1.9% | -2.7% | -5.4% | |
| Q2 2019 | +2.8% | +3.1% | +7.0% | |
| Q1 2019 | -11.1% | -15.0% | -15.9% | |
| Q4 2018 | +1.6% | +0.7% | -9.8% | |
| Q3 2018 | -0.2% | -0.3% | -8.3% | |
| Q2 2018 | -9.1% | -10.4% | -12.1% | |
| Q1 2018 | +3.9% | +7.2% | +8.6% | |
| Q4 2017 | +2.2% | +2.7% | -3.8% | |
| Q3 2017 | -0.7% | -1.1% | +5.2% | |
| Q2 2017 | -1.3% | +0.6% | +3.8% | |
| Q1 2017 | +5.2% | +6.8% | +6.3% | |
| Q4 2016 | -3.1% | -3.7% | -5.5% | |
| Q3 2016 | -2.8% | -0.3% | +5.3% | |
| Q2 2016 | +5.0% | +5.9% | +7.3% | |
| Q1 2016 | +3.2% | — | — | |
| Q4 2015 | +9.4% | — | — | |
| Q3 2015 | -8.7% | — | — | |
| Q2 2015 | +1.3% | — | — | |
| Q1 2015 | +7.5% | — | — | |
| Q4 2014 | +6.6% | — | — | |
| Q4 2013 | +7.8% | — | — | |
| Q4 2012 | +3.9% | — | — | |
| Q4 2010 | +1.8% | — | — | |
| Q4 2011 | +1.8% | — | — | |
| Q4 2009 | +1.8% | — | — | |
| Q2 2010 | +10.6% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro