Magna Revises FY25 Revenue Outlook On Veoneer Active Safety Buyout
Portfolio Pulse from Lekha Gupta
Magna International Inc (NYSE:MGA) has revised its FY25 revenue outlook following the acquisition of Veoneer Active Safety. The company raised its revenue guidance to $46.7 billion - $49.2 billion, up from the previous $44.7 billion - $47.2 billion. The Power & Vision outlook has also been increased to $16.8 billion - $17.4 billion. However, the company's sales outlook for other sectors and its adjusted EBIT margin outlook for FY25 remain unchanged. MGA shares are currently trading lower by 2.45% at $58.06.
September 07, 2023 | 3:22 pm
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Magna International's acquisition of Veoneer Active Safety has led to a revision of its FY25 revenue outlook. Despite this positive news, MGA shares are trading lower.
The acquisition of Veoneer Active Safety is a significant move for Magna International, leading to a revision of its FY25 revenue outlook. This indicates a positive future outlook for the company. However, despite this, MGA shares are trading lower, which may be due to other market factors or investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100