Magna International Inc (NYSE:MGA)

$ 41.885 -0.275 (-0.65%) Market Cap: 12.04 Bil Enterprise Value: 19.05 Bil PE Ratio: 11.20 PB Ratio: 1.04 GF Score: 75/100

Magna International Inc at JPMorgan Auto Conference Transcript

Aug 13, 2019 / 06:30PM GMT

Release Date Price: $49.89 (+0.52%)

Transcript

Ryan J. Brinkman

JP Morgan Chase & Co, Research Division - Senior Equity Research Analyst

Let me get going with the next presentation. Very happy to have with us here Vince Galifi, the Chief Financial Officer of Magna International. Vince is going to come up and make a few remarks and then join me for Q&A. Thanks for coming, Vince. Appreciate it.

Vincent Joseph Galifi

Magna International Inc. - Executive VP & CFO

Thank you, Ryan. There's also Louis Tonelli and Eric Goldstein from Magna who are sitting in the front here. Well, thanks for joining us this afternoon.

We reported our second quarter just last week, and I'd just highlight a little bit of what happened in the quarter. We had a, from my perspective, a pretty solid second quarter. Sales were in line with our expectations. Earnings came in slightly better than what we thought. I'd say there's -- as I look around the various segments at Magna, everyone did a little bit better than what we were expecting outside of our Seating business, and I'm sure we'll have some questions on that.

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