Why Magna (MGA) Shares Are Falling Today - Magna International (NYSE:MGA)

Magna International Inc MGA reported fourth-quarter FY22 sales growth of 5% year-on-year to $9.56 billion, beating the consensus of $9.55 billion.
Body Exteriors & Structures segment sales increased 11% Y/Y, Power & Vision grew 8%, Seating Systems gained 4%, and Complete Vehicles sales declined 12%.
Operating income for the quarter was $146 million, with an operating margin of 1.5%.
Adjusted EBIT was $356 million with an adjusted EBIT margin of 3.7%.
Adjusted EPS of $0.91 missed the analyst consensus of $1.06.
Magna had cash and equivalents of $1.2 billion as of Dec. 31, 2022.
The company's Board raised its fourth-quarter dividend of $0.46 per share, payable on Mar. 10, 2023, to shareholders of record on Feb. 24, 2023. The company paid a Q3 dividend of $0.45 per share in December.
Outlook: Magna sees FY23 sales of $39.6 billion - $41.2 billion versus the estimate of $39.83 billion.
The company forecasts FY25 total sales of $44.7 billion - $47.2 billion.
Price Action: MGA shares are trading lower by 12.94% at $56.23 on the last check Friday.

Momentum27.19

Growth54.44

Quality74.28

Value93.93

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Magna Drops After Q4 Bottom-Line Miss; Clocks 5% Sales Growth