The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst
: The Power & Vision segment was particularly strong. I believe some of it has been the engineering support that you had to provide for the 3
programs that I believe, some -- or all of them are in launch. So those costs have dropped off, maybe you're getting some contribution from the
programs. But could you just review in further detail why the Power & Vision had such a strong result this quarter?
Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst
: And then I just wanted to ask if you could give us an update on where you're at on the electric drive program awards. I believe you've been awarded
-- I believe it's 3 programs. If you could talk a little bit about where those programs are and what joint ventures and what quoting activity looks
like? And what you anticipate seeing unfolding, say, over the next 12 to 24 months in terms of quoting activity and potential program awards?
Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst
: Okay. And Swamy, the partnership or joint venture that you're developing with LG, has that progressed enough where it is quoting on electric
drives as well, or is that joint venture still in its infancy and it's not up and running yet?
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
MAY 06, 2021 / 11:00AM, MG.TO - Q1 2021 Magna International Inc Earnings Call
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: Just on the upward revision to equity income for the year, I mean, depending on the [sustainability of that] trajectory, I mean, can this potentially
drive the revision to your 2023 target (inaudible) earnings stream? I mean, just in the past, right, the company has made singular revisions to its
equity income. So just curious if we see another quarter of better contribution if this is a likely outcome? And if not, what might be the nonrecurring
benefits this year?
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: Okay. And I might have missed this on commodities. But I mean, I know -- I believe the Cosma business it does benefit from rising scrap prices,
which, of course, is playing out in the marketplace. I mean, yes -- and again, my apologies if I missed it, I mean, just context on the company's net
commodity exposure and how we should be thinking about the full year?
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: And then just on free cash flow, another upward revision there, clearly very strong free cash flow, great balance sheet. How are we approaching?
What's the latest and greatest on the capital allocation front?
|
