Magna International (USA) (MGA) Releases Earnings Results, Beats Expectations By $0.07 EPS

Magna International (USA) (MGA) reported quarterly earnings results on Friday, Aug-5-2016. The company said it had a profit of $1.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $1.34. The company posted revenue of $9443.00 million in the period, compared to analysts expectations of $9204.19 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Magna International (USA) opened for trading at $38.02 and hit $38.62 on the upside on Thursday, eventually ending the session at $38.3, with a gain of 0.84% or 0.32 points. The heightened volatility saw the trading volume jump to 12,28,354 shares. Company has a market cap of $15,193 M.

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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