Magna International (MGA) Tops Q3 EPS by 60c, Revenues Beat; Raises FY20 Revenue Guidance Above Consensus
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Magna Announces Third Quarter 2020 Results
November 6, 2020 5:00 AM ESTSales 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 quarter of 2019Adjusted diluted earnings per share of $1.95, 38% higher than the third quarter of 2019Cash from operating activities of $1.6 billion, compared to $750 million in the... More
