Magna Q4 earnings plummet
The quarterly and annual earnings drops for Magna, the world's fourth-largest supplier by annual sales to automakers, reflect the broader financial struggles parts suppliers have faced during the last year......»»
AutoNation, Lithia making progress with captive finance companies
AutoNation and Lithia Motors, the two public franchise auto retailers with the ability to approve car loans for their own customers, said on fourth-quarter 2023 earnings calls they are making progress building those fledgling captive finance companie.....»»
Suppliers, competing with UAW raises, expect higher labor costs in 2024
During quarterly earnings calls with analysts and investors in February, suppliers frequently highlighted one area in which cost increases are expected to persist this year: labor......»»
Self-driving sensor maker Luminar"s shares fall as production delay at Volvo hits earnings
Luminar Technologies shares tumbled about 11% Wednesday after the self-driving sensor maker's fourth-quarter results missed estimates on delayed production schedule for Volvo Cars' new EX90 electric crossover......»»
Fisker to report Q4 earnings amid EV slowdown, pivot to franchised dealers
Questions submitted by investors for the earnings call reflected concerns about Fisker's financial stability and problems with its first vehicle, the Ocean, which launched in the U.S. in late June......»»
Apple doesn"t care about games, long-time Apple Arcade developers say
Game developers are expressing frustration about Apple Arcade, as payments plummet and projects get axed by Apple's leadership.Apple ArcadeAs an all-you-can-eat model, Apple Arcade offers developers a way to create games without relying on players op.....»»
Rivian, Lucid earnings reports tell a tale of a tough EV market
Rivian and Lucid are burning through cash. Sales are expected to be flat this year. The EV startups, along with Tesla, are trying to move downmarket for growth......»»
GM to include EVs, software, Cruise in salaried employees" bonuses
For 2024, 60 percent of salaried employees' bonuses will come from earnings before interest and taxes and free cash flow, while 40 percent will come from EVs, software and services and Cruise, has learned......»»
Lithia Motors downplays $50B 2025 revenue target, stresses earnings per share growth
Lithia Motors Inc. CEO Bryan DeBoer is downplaying his dealership group's goal to reach $50 billion in revenue by 2025 and is focused more on another benchmark......»»
Lucid says Q4 net losses widen to $654 million, predicts stagnant production
The EV maker said its full-year 2023 net loss was $2.83 billion compared with 2022's net loss of $1.3 billion. Its stock price fell sharply after the disappointing fourth-quarter earnings report......»»
Visteon Q4 earnings, net income soar amid tax credit
Visteon's earnings soared in the fourth quarter amid a $313 million U.S. tax benefit and a rise in new business ventures......»»
Rivian and Lucid to report Q4 earnings as the once-hot startups face cooling EV demand
Rivian and Lucid cut vehicle prices in February even as both burn through cash. The startups once had higher market valuations than GM or Ford but are now worth a small fraction of their market peaks......»»
UAW strike dinged supplier earnings, but worst-case scenarios were dodged, Q4 reports show
Major suppliers were largely able to absorb the financial impact of the UAW strike and avoid the worst-case scenarios many feared in the lead-up to the work stoppage, but challenges persist......»»
Lyft’s CEO says ‘my bad’ on margin error, ‘it was one zero’
Lyft Inc. Chief Executive Officer David Risher’s response to a clerical error that unintentionally inflated the company’s earnings outlook on Tuesday and sent shares soaring: “My bad.”.....»»
Lithia net income down 13%, revenue at record $7.7 billion in Q4
Lithia Motors Inc. Q4 2023 earnings: Car dealership group reached a record $7.7 billion in revenue but saw net income fall to $216 million......»»
Magna Q4 earnings surge despite UAW, EV production headwinds
Magna International Inc., the largest North American parts supplier, on Friday said its fourth-quarter net income surged 185 percent to $271 million from a year earlier thanks to steadier global new-vehicle production......»»
BorgWarner Q4 earnings, revenue improve, but EV pullback raises concerns
BorgWarner's earnings fell short of expectations, leaving investors with questions about the supplier’s exposure to EV programs......»»
Politically conservative CEOs found to think differently about transparency
As a purely voluntary form of disclosure, management earnings forecasts may tell us as much about the managers themselves as about their company's financial future. All sorts of personality traits may influence the content and cadence of forecasts, b.....»»
EV pullback hits BorgWarner revenue, earnings
Supplier BorgWarner's Earnings fell short of expectations, leaving investors with questions about the supplier’s exposure to EV programs......»»
Roblox sees Apple Vision Pro as "an interesting candidate" for expansion
During its quarterly earnings call, Roblox's CEO hinted at the possibility of expanding the game to the Apple Vision Pro and expressed the company's desire to have "Roblox everywhere."Roblox sees Apple Vision Pro as 'an interesting' place to expandRo.....»»
Asbury Q4 net income down 84%; company trims revenue goal
Asbury Automotive Group Inc. Q4 2023 earnings: ABG saw net income fall 84 percent year-over-year to $55.5 million. It also set a future revenue goal of $30 billion instead of the $32 billion it had previously targeted......»»