8 stories mentioning MRE.TO
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Martinrea International (MRE.TO) is renewing its normal course issuer bid (NCIB), the company said on Monday.Martinrea may buy back up to 6.87 million shares from May 27, for one year.Under its previous NCIB, which expires on May 26, Martinrea bought back 2.3 million shares at a weighted average price of $10.03, a statement noted.Martinrea shares closed up $0.46, to $10.88, on Friday, on the Toronto Stock Exchange.
Martinrea International (MRE.TO) after trade Thursday reported higher adjusted profit and lower revenue for the first quarter.The auto-parts manufacturer said its adjusted profit, which excludes most one-time items, rose to $32.5 million, or $0.45 per share, in the period, up from $29.5 million, or $0.41, a year ago. FactSet expectedRevenue fell 3.7 % to $1.13 billion from $1.17 billion a year prior. "The total decrease in sales was driven by year-over-year decreases across all operating segments," the company said. FactSet projected"We continue to monitor and address the impact of tariffs on our business, including the recent amendments to Section 232 tariffs impacting derivative steel and aluminum products. The vast majority of parts we export to the U.S. are USMCA-compliant and therefore exempt from tariffs. While the section 232 amendments affect some inputs we receive from our Tier 2 suppliers, the impact is modest and expected to be absorbed by our customers," Chief Executive Pat D'Eramo said.The company also reaffirmed its 2026 guidance, with Chief Financial Officer Peter Cirulis adding that Martinrea is "well-positioned to deliver on our 2026 outlook, which calls for total sales of $4.5 to $4.9 billion, adjusted operating income margin of 5.5% to 6%, and free cash flow of $125 to $175 million."The board approved a cash dividend of $0.05 per share, payable to shareholders of record on June 30 on or about July 15.Martinrea shares closed up $0.51 to $10.04 on the Toronto Stock Exchange.
CIBC Capital Markets released its "Q1/26 Auto Preview".Auto names have been volatile since the start of the Iran War, which has understandably turned the market's focus back to macro risks," noted CIBC."Shares have begun to price in more optimistic outcomes for the conflict, though we worry this could prove premature," said CIBC.CIBC does not believe the risk lies with Q1 results, which it said, do not appear to have been impacted by the war, and which should reflect industry sales and production that fell largely in line with expectations, it noted.CIBC does not expect the suppliers to change guidance with Q1 reporting, but noted "the longer the war endures, the greater the risks become"."We continue to view valuations as undemanding, but macro events will likely continue to create near-term volatility, and we acknowledge elevated risks that lower visibility," said CIBC.Resolutions to the Iran War and USMCA negotiations are "key catalysts for the sector", and would help return attention to positive fundamental developments, added CIBC.CIBC's estimates, ratings and price targets are unchanged, and it said that Linamar (LNR.TO) remains its "top autos pick".Price: $23.28, Change: $+0.25, Percent Change: +1.09%
The Toronto Stock Exchange was down Thursday for only the second time in twelve sessions on some profit taking, but also on lingering concerns around what impact the war on Iran will have on markets, as National Bank revised down its global growth forecast for 2026.The S&P/TSX Composite Index closed down 103.76 points, or 0.3%, to 34,052.23, even with most sectors higher, led by Telecom, up 1.1%, and Energy, up 1%, while Base Metals was up 0.2%. The Battery Metals Index was down 1.4%The TSX had been buoyed by improved sentiment around the outlook for the Canadian economy, as shown by a largely enthusiastic response to news this week that the federal Liberal Party now had enough seats in Parliament to form a majority government, and now has a free hand to pushing through its economic agenda. Canadians will learn more about that on April 28 when the Liberals will provide a fiscal update and outline its economic plans.Reflecting the improved sentiment, both Linamar (LNR.TO) and Martinrea International (MRE.TO) have within the last day maintained their full-year 2026 outlooks following the amendment of Section 232 tariffs on steel, aluminum and copper imports into the United States, which came into effect on April 6.Still, National Bank of Canada says the Middle East crisis has been ongoing for too long to leave no mark on the global economy.National Bank noted nearly seven weeks have passed since the United States and Israel launched their war on Iran, and although hopes for a negotiated peace between the warring parties have been revived in recent days, the bank said it is unlikely that the global economy will emerge from the crisis completely unscathed. For even though tensions have eased somewhat, the Strait of Hormuz remains effectively closed to shipping. Too many essential raw materials have therefore been stuck in the Persian Gulf for too long for global growth not to be affected in some way, it added.Even if the strait could be reopened to shipping quickly, it would likely still take several weeks to restore the normal flow of these goods, National Bank said. Not only because of the time it takes for ships to make the journey between the Middle East and other parts of the world, but also because of the difficulties associated with restarting production, it added.National Bank said while the economic consequences of the conflict will vary greatly from one country to another, they will nonetheless be negative on a global scale. That is why the bank revised down its global growth forecast for 2026, to 3.1% from 3.4%. This downward revision reflects less favorable outlooks in Europe and in emerging Asian countries. For 2027, the bank still expects global GDP to grow by 3.3%.Of commodities, West Texas Intermediate crude oil rose on Thursday, but remained below the US$100 mark on hopes the United States and Iran will extend their ceasefire and resume talks to end war in the Middle East. WTI crude oil for May delivery closed up US$3.40 to settle at US$94.69 per barrel, while June Brent oil was up US$4.29 to US$99.22.Gold prices weakened by midafternoon Thursday, remaining rangebound below US$5,000 as high oil and gas prices threaten to boost inflation and interest rates. Gold for May delivery was down US$15.40 to US$4,808.20 per ounce.
Martinrea International (MRE.TO) on Thursday said it is maintaining its full-year 2026 outlook following the amendment of Section 232 tariffs on Steel, Aluminum and Copper imports into the United States, which came into effect on April 6.The company said it expects no impact to its business as a result of the Section 232 tariff amendments, as auto parts are covered under a separate agreement, and its parts, which are USMCA-compliant, remain exempt from tariffs."The company is subject to tariffs on certain imports of raw material inputs (i.e., steel and aluminum derivative products) that may be impacted by the recent amendments," added the company. "However, any adverse impact is expected to be modest, and absorbed by its customers, or otherwise mitigated."The company's shares were last seen up $0.23 to $9.18 on the Toronto Stock Exchange.Price: $9.18, Change: $+0.23, Percent Change: +2.57%