Magna International, Inc. (NYSE:MGA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Magna International, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.53% to $1.57 in the quarter versus EPS of $1.46 in the year-earlier quarter.
Revenue: Rose 9.07% to $8.36 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Magna International, Inc. reported adjusted EPS income of $1.57 per share. By that measure, the company beat the mean analyst estimate of $1.44. It beat the average revenue estimate of $8.09 billion.
Quoting Management: There was no comment from management.
Key Stats (on next page)…
Revenue increased 4.08% from $8.03 billion in the previous quarter. EPS decreased 5.99% from $1.67 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.51 to a profit $1.54. For the current year, the average estimate has moved up from a profit of $5.40 to a profit of $5.56 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)