Thx
EPS of $1.69 beat estimates of $1.51, Revenue of $10.62B beat estimates of $10.32B. EBITDA of $1.09B beat estimates by 6%. Still, Magna's 2025 earnings remain under pressure as global production faces cuts in key markets like the US and Europe. FX headwinds account for 2-3% of revenue, with further downside possible if automakers squeeze pricing due to potential tariffs -- risks not yet reflected in Magna's production outlook. Slowing EV output and program terminations in complete vehicle manufacturing pose the biggest threats to bookings. Though cost savings and restructuring may support margins, they are unlikely to offset the top-line drag in 2025. Notably, Magna has been trimming 2026 revenue guidance since February 2024. But, at 6X earnings, much worry is priced in. But still hard to generate much excitement here.