Magna Announces Third Quarter Results

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Go back to Magna Announces Third Quarter Results

Magna International (MGA) Tops Q3 EPS by 1c, Revenues Miss; Lowers FY19 Revenue Guidance, 'GM Strike Reduced 3Q Sales'

November 8, 2019 5:48 AM EST

Magna International (NYSE: MGA) reported Q3 EPS of $1.41, $0.01 better than the analyst estimate of $1.40. Revenue for the quarter came in at $9.32 billion versus the consensus estimate of $9.38 billion.

Sales of $9.3 billion decreased 3%, compared to global light vehicle production down 3% Labour strike at General Motors (GM strike) reduced third quarter salesExcluding foreign currency... More