Magna Announces Third Quarter 2020 Results
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Magna International (MGA) Tops Q3 EPS by 60c, Revenues Beat; Raises FY20 Revenue Guidance Above Consensus
November 6, 2020 5:50 AM ESTMagna International (NYSE: MGA) reported Q3 EPS of $1.95, $0.60 better than the analyst estimate of $1.35. Revenue for the quarter came in at $9.1 billion versus the consensus estimate of $9.08 billion.
Sales of $9.1 billion decreased 2%, compared to 4% lower global light vehicle productionRecorded non-cash impairment charges of $200 million after income taxes and loss attributable to non-controlling interests related to our investment in an equity accounted transmissions joint ventureDiluted earnings per share of $1.35, compared to diluted loss per share of $0.75 in the third... More