0924 ET - Magna International has done a lot under the hood to support strong margins in 4Q, but currency dynamics may be a slight offset. In a TD Cowen report, Brian Morrison says the Canadian auto-parts manufacturer's guidance implies strong sequential and year-over-year margin expansion as well as EPS growth. This isn't without challenges, but the analyst says he is optimistic in Magna's margin outlook, "largely due to its 'self-help' initiatives like operating efficiencies, lower engineering costs, and customer/engineering recoveries." Still, a strong U.S. dollar will weigh on earnings, despite Magna's operational efforts. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
January 27, 2025 09:24 ET (14:24 GMT)
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