Magna International (USA) (MGA) Releases Earnings Results, Beats Expectations By $0.03 EPS

Magna International (USA) (MGA) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $1.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.19. The company posted revenue of $8900.00 million in the period, compared to analysts expectations of $8644.99 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Magna International (USA) closed down -1.55 points or -3.76% at $39.7 with 23,59,683 shares getting traded on Wednesday. Post opening the session at $40.79, the shares hit an intraday low of $39.67 and an intraday high of $40.79 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development engineering and sales centers in approximately 28 countries. Its product capabilities include producing body chassis interior exterior seating powertrain electronic vision closure and roof systems and modules as well as vehicle engineering and contract manufacturing. Its customers include General Motors Fiat-Chrysler Ford BMW Daimler and Volkswagen. Its offers programs which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America Europe and Asia.

Magna International  (USA)

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