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Magna International Inc. (TSX: MG; NYSE: MGA) today posted financial results Q1 2026. Sales increased 3% to U.S.$10.4 billion, while the global parts supplier dealt with a 7% decline in global light vehicle production. Diluted loss per share was $0.04 as Adjusted EPS increased 77% to $1.38. The Magna Board of Directors declared a first quarter dividend of $0.495 per Common Share. The dividend is payable on 29 May 2026 to shareholders of record as of the close of business on 15 May 2026. In early trading on both exchanges Magna stock declined ~6%.*
“We delivered a strong start to 2026, driven by disciplined execution, margin expansion and robust free cash flow generation. Our actions to further refine our portfolio, including the announced dispositions within Power & Vision, reinforce our focus on long-term value creation,” said Swamy Kotagiri, Magna CEO. Continue reading
May Day – UAW Strike Votes at American Axle, Woodward MPC
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UAW Local 2093 members at American Axle, aka Dauch Corporation, today announced plans to hold a strike authorization vote starting 11 May. Results will be counted on 12 May, with the chance for workers to walk out of the Three Rivers plant starting May 31 when the current contract expires. Local 2093 members laid out their demands in a video released earlier in March, which include: no concessions, fairer wages and profit sharing, better health care, stronger retirement, and job security. *
“UAW Local 2093 members at American Axle have been loyal to their company for decades and during these negotiations we are here for our fair share.” said UAW Region 1D Director Steve Dawes. “This company is making billions every year – these workers are ready to do whatever it takes to win a record contract that’s long past due.” Continue reading →