Magna International (MGA) Misses Q4 EPS by 29c

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Go back to Magna International (MGA) Misses Q4 EPS by 29c

Magna Announces Board Leadership and Other Changes

February 11, 2022 5:05 AM EST

Board Chair, William L. Young, not standing for re-electionAudit Committee Chair, Robert F. MacLellan, selected by Board to succeed as Board Chair in MayDr. Thomas Weber has been appointed to Board

AURORA, Ontario, Feb. 11, 2022 (GLOBE NEWSWIRE) -- Magna announced today upcoming changes to the leadership of its Board of Directors, ahead of the companys annual meeting scheduled for May 3, 2022.

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Magna Announces Fourth Quarter 2021 Results and Outlook

February 11, 2022 5:00 AM EST

Fourth Quarter 2021 Highlights

Sales of $9.1 billion decreased 14%, compared to a 17% decrease in global light vehicle productionDiluted earnings per share and Adjusted diluted earnings per share of $1.54 and $1.30, respectively, compared to $2.45 and $2.83 last yearReturned $378 million to shareholders through share repurchases and dividendsRaised quarterly cash dividend by 5% to $0.45 per share

Full Year 2021 Highlights

Sales of $36.2 billion increased 11%, compared to global vehicle production which increased 4%Diluted earnings per share and Adjusted diluted earnings per share of $5.00 and $5.13, respectively, compared to $2.52 and $3.95 last yearReturned over $1 billion to... More