Recap: Magna International Q3 Earnings

Shares of Magna International MGA decreased 4.5% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 38.30% over the past year to $1.95, which beat the estimate of $1.35.

Revenue of $9,129,000,000 declined by 2.04% from the same period last year, which beat the estimate of $9,080,000,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

The upcoming fiscal year's revenue expected to be between $31,500,000,000 and $32,500,000,000.

Details Of The Call

Date: Nov 06, 2020

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/b25xm6ot

Technicals

52-week high: $57.09

52-week low: $22.75

Price action over last quarter: Up 4.54%

Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly. Roughly half of Magna's revenue comes from North America while Europe accounts for approximately 44%.