Magna International (MGA) Tops Q1 EPS by 29c, Revenues Beat; Raises FY21 Outlook

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Go back to Magna International (MGA) Tops Q1 EPS by 29c, Revenues Beat; Raises FY21 Outlook

Magna Announces First Quarter 2021 Results

May 6, 2021 5:00 AM EDT

Sales of $10.2 billion increased 18%Global light vehicle production was up 18% driven by an 87% increase in ChinaIncome from operations before income taxes increased 109%Adjusted EBIT was up 91%Diluted earnings per share and adjusted diluted earnings per share increased 136% and 116%, respectivelyIncreased 2021 outlook to reflect modestly higher sales and Adjusted EBIT margin expectations

AURORA, Ontario, May 06, 2021 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the first quarter ended March 31,... More