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Magna 4Q; EBIT Miss

CONSUMER CYCLICALS
  • Revenues of $10.45bn in line with estimates, +4% LFL. Adj. EBIT of $558mn missed consensus expectations of $573mn
  • Management pointing to EBIT margins expansion in 2026 to 7-7.7% from 5.2% currently.
  • FY24 guidance is in line with expectations, capex similar to 2023.

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