Magna International Reports Q3 Financials

Ticker: MGA · Form: 6-K · Filed: 2024-11-01T00:00:00.000Z

Sentiment: neutral

Topics: financial-results, foreign-private-issuer, reporting

Related Tickers: MGA

TL;DR

Magna Intl (MGA) dropped its Q3 financials on Nov 1st, check the 6-K for details.

AI Summary

Magna International Inc. filed a Form 6-K on November 1, 2024, reporting its interim unaudited financial results for the period ending September 30, 2024. The filing includes a press release, Exhibit 99.1, which details these financial results. Magna International Inc. is a Canadian company specializing in motor vehicle parts and accessories.

Why It Matters

This filing provides investors with the latest financial performance data for Magna International, a key supplier in the automotive industry, allowing for assessment of its current operational health and market position.

Risk Assessment

Risk Level: low — This is a routine financial reporting filing (6-K) and does not contain new material events or significant risk disclosures.

Key Players & Entities

FAQ

What type of report is this filing?

This filing is a Form 6-K, which is a Report of Foreign Private Issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.

Who is the filer of this document?

The filer is MAGNA INTERNATIONAL INC.

What is the principal executive office address of Magna International Inc.?

The principal executive office is located at 337 Magna Drive, Aurora, Ontario, Canada L4G 7K1.

What is the filing date of this report?

The filing date is November 1, 2024.

What is the primary content of Exhibit 99.1?

Exhibit 99.1 is a press release issued on November 1, 2024, announcing the Registrant's interim unaudited financial results for the period ending September 30, 2024.

From the Filing

0001104659-24-113190.txt : 20241101 0001104659-24-113190.hdr.sgml : 20241101 20241101060135 ACCESSION NUMBER: 0001104659-24-113190 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 34 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241101 DATE AS OF CHANGE: 20241101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MAGNA INTERNATIONAL INC CENTRAL INDEX KEY: 0000749098 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11444 FILM NUMBER: 241416805 BUSINESS ADDRESS: STREET 1: 337 MAGNA DRIVE STREET 2: N/A CITY: AURORA, ONTARIO, CAN STATE: A6 ZIP: L4G 7K1 BUSINESS PHONE: 9057262462 MAIL ADDRESS: STREET 1: 337 MAGNA DRIVE STREET 2: N/A CITY: AURORA, ONTARIO, CAN STATE: A6 ZIP: L4G 7K1 6-K 1 tm2423886d1_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of November 2024 Commission File Number 001-11444 MAGNA INTERNATIONAL INC. (Exact Name of Registrant as specified in its Charter) 337 Magna Drive , Aurora, Ontario, Canada L4G 7K1 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ¨ Form 40-F x SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MAGNA INTERNATIONAL INC. (Registrant) Date: November 1, 2024 By: /s/ “Bassem Shakeel” Bassem A. Shakeel, Vice-President, Associate General Counsel and Corporate Secretary EXHIBITS Exhibit 99.1 Press release issued November 1, 2024, in which the Registrant announced its interim unaudited financial results for the three-month and nine-month periods ended September 30, 2024, and declared a quarterly dividend. Exhibit 99.2 The Third Quarter Report of the Registrant, including its unaudited interim consolidated financial statements and Management's Discussion and Analysis of Results of Operations and Financial Position for the period ended September 30, 2024. Exhibit 99.3 Certificate of the Chief Executive Officer of the Registrant, Seetarama (Swamy) Kotagiri, dated November 1, 2024, on Form 52-109F2 pursuant to the Canadian Securities Administrators' Multilateral Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings. Exhibit 99.4 Certificate of the Chief Financial Officer of the Registrant, Patrick W.D. McCann, dated November 1, 2024, on Form 52-109F2 pursuant to the Canadian Securities Administrators' Multilateral Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings. EX-99.1 2 tm2423886d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 PRESS RELEASE MAGNA ANNOUNCES THIRD QUARTER 2024 RESULTS · Sales of $10.3 billion decreased in-line with the 4% reduction in global light vehicle production · Diluted earnings per share were $1.68, up $0.31, largely reflecting recognition of Fisker deferred revenue · Adjusted diluted earnings per share were $1.28, down $0.18, including $0.10 due to a higher income tax rate · Normal Course Issuer Bid to purchase up to 10% of our public float of Common Shares, with purchases expected to commence in the fourth quarter of 2024 AURORA, Ontario, November 1, 2024 — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2024. THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2024 2023 2024 2023 Reported Sales $ 10,280 $ 10,688 $ 32,208 $ 32,343 Income from operations before income taxes $ 700 $ 538 $ 1,161 $ 1,296 Net income attributable to Magna International Inc. $ 484 $ 394 $ 806 $

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